Central Bank of India has entered into a strategic Co-Lending Partnership with Ambit Finvest to offer MSME Loans.

Ambit Finvest Private Limited is registered NBFC with Reserve Bank of India. The NBFC is engaged in providing MSME Loans. Ambit Finvest has disbursed Rs 3,500+ crore worth of loans and has grown its AUM at a CAGR of ~50%. It currently has an AUM of Rs 2,750+ crore and a wide footprint across 11 states through its 150+ branches and 1,700+ employees.

Under the arrangement, Ambit Finvest will originate and process Loan proposals under MSME Sector as per jointly formulated credit parameters and eligibility criteria and Central Bank of India will take into its books 80% of the MSME Loans under mutually agreed terms. Ambit Finvest will service the loan account throughout the life cycle of the loan. The Co-Lending arrangement is expected to help both the entities to offer convenient experience and customer delight to their customers as well as help expand their reach across India.