CSB Bank announced that it has entered into a partnership with non-banking finance company, IIFL Finance (IIFL) for sourcing and managing retail gold loan assets.
IIFL, acting as Business Correspondent (BC) of the Bank, will source new business from markets where CSB Bank does not have adequate branch network. IIFL, with its vast branch network, would help CSB Bank penetrate the lower strata of customers and rural areas, where the Bank currently does not have adequate reach. This arrangement would result in scaling up of the customer base.
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