Back to Career News

Debt marketplace Yubi partners with SBI

September 28, 2022

Debt marketplace Yubi partners with SBI
Corporate debt solution company Yubi on Tuesday announced a partnership with the country’s largest bank State Bank of India (SBI) for the latter to integrate with its co-lending marketplace Yubi Co.Lend for credit to the priority sectors including small businesses. 

Yubi Co.Lend allows lenders to discover partners including non-banking financial companies (NBFCs), housing finance companies (HFCs) and fintechs, and collaborate with them to jointly disburse loans. The marketplace has facilitated the disbursal of over ₹5,000 crore loans so far, registering more than 80,000 transactions per day, the company said.

Yubi said it will also build, manage and monitor SBI’s co-lending portfolio and ensure compliance as well. “This partnership has the potential to unlock $1 trillion in capital for Priority Sector Lending in Tier-2,3 and 4 cities, small enterprises, and farmers, which will go towards scaling their businesses, increased earning power, and the ability to create value for their communities and the country at large,” said Gaurav Kumar, Founder and CEO, Yubi.

Initiated by the Reserve Bank of India, co-lending provides a framework for collaboration between two financial institutions including a bank and an NBFC to jointly fund credit disbursals. 

Important Links:

Recommended for you ...

Tech Mahindra inks MoU with Axiata to develop 5G solutions
Tech Mahindra inks MoU with Axiata to develop 5G solutions

December 01, 2022

City Union Bank authorised to enable GST payments
City Union Bank authorised to enable GST payments

December 01, 2022

RBI authorises Tamilnad Mercantile Bank to undertake govt business
RBI authorises Tamilnad Mercantile Bank to undertake govt business

December 01, 2022

Chat on WhatsApp