Bank of Baroda, U GRO Capital launch co-lending platform ‘Pratham’
Pratham will allow the MSMEs to avail customised lending solutions at a competitive rate of interest with a significant reduction in turn-around time
Bank of Baroda and fintech platform U GRO Capital have launched a co-lending platform Pratham, under which Rs 1,000 crore loan will be disbursed to the MSME sector in the country. Commencements of loan disbursements under Pratham mark the 114th Foundation Day of Bank of Baroda. Pratham, a Rs 1,000 crore co-lending programme, will allow the MSMEs to avail customised lending solutions at a competitive rate of interest with a significant reduction in turn-around time. The loan amount ranges from Rs 50 lakh to Rs 2.5 crore to be offered at an interest rate starting from 8 per cent with a maximum tenure of 120 months.
Bank of Baroda is engaged in providing various services, such as personal banking, corporate banking, international banking, small and medium enterprise (SME) banking, rural banking, non-resident Indian (NRI) services and treasury services.