Central banks have partnered with Dhanvarsha to offer Gold Loans to assist MSMEs and individuals in achieving their financial goals.
The Central Bank of
India has formed a strategic co-lending agreement with Dhanvarsha Finvest Ltd (DFL)
to provide competitive loans against gold ornaments to Micro, Small, and Medium Enterprise (MSME) borrowers. According to DFL's stock exchange filing, the public sector bank would then originate and procedure loans against gold ornaments based on jointly conceived credit parameters and eligibility criteria, while the Central Bank of
India will take 80 percent of the gold loans into its book under mutually agreed terms. Throughout the loan's life cycle, DFL would service the account. CBoI and DFL will expand their portfolios as a result of their participation in this co-lending arrangement, according to the Bank.
Dhanvarsha is a publicly-traded NBFC (Non-Banking Financial Company) to provide
finance to India's massive and underserved MSME market. Along with a substantial co-lending partnership with the
Central Bank of
India, the company has reputable lenders such as HDFC, SBI, Bank of India, DCB Bank, Central Bank of India, Northern Arc, MAS Financial, and others.
