CURRENT AFFAIRS

2021

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Which bank has signed a co-lending agreement with U GRO Capital to provide INR 1000 crore formal credit to underserved MSMEs at affordable rates?
A
IndusInd Bank
B
Bank of Baroda
C
Central Bank of India
D
Indian Overseas Bank
Explanation: 

Detailed explanation-1: -Central Bank of India signed a co-lending agreement with U GRO Capital.

Detailed explanation-2: -Mumbai, September 1st 2019 – ECL Finance Limited, a subsidiary of Edelweiss Financial Services Limited and Central Bank of India (CBI), one of India’s largest commercial banks, signed an agreement for Priority Sector Lending to Micro, Small and Medium Enterprise (MSME) customers.

Detailed explanation-3: -The company has entered into co-lending pacts with State Bank of India, Bank of Baroda, IDBI Bank, Central Bank of India, Indian Overseas Bank, Punjab & Sind Bank as well as with a few private sector lenders, small finance banks and non-banking lenders.

Detailed explanation-4: -U GRO Capital limited, (formerly known as Chokhani securities) is a BSE listed NBFC established in 1993.

There is 1 question to complete.