Bank of Baroda partners Agra-based NBFC Paisalo Digital for micro lending

BoB to focus heavily on women SHGs, looks to expand small loans, micro finance portfolio

Public-sector lender Bank of Baroda (BoB) today signed an agreement with Agra-based non banking financial company (NBFC) Paisalo Digital Limited (PDL) for expanding its micro lending portfolio, especially focussing on women self-help groups (SHG).

The agreement was signed here in the presence of BoB managing director and CEO P S Jayakumar and PDL managing director Sunil Agarwal.

Under the pact, the two financial entities would jointly reach out to prospective customers and conduct due diligence for extending small ticket loans in India with special focus on Uttar Pradesh.

“We would be offering advances ranging from Rs 10,000 to Rs 40,000 and deploy our