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SBI selects Paisalo as its National Corporate Business Correspondent

State Bank Of India (SBI) have chosen “penny” digital” In form of Bank’s National Corporate Business Correspondent For financial inclusion by providing banking services through kiosks. The service level agreement and other formalities will be signed soon. Tapping into Paisalo Market opportunity of Rs 8 lakh crore Small-ticket loans for India’s 365 million unbanked population.

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To ensure better financial inclusion and increase outreach, the financial solutions company will expand its services and reach to the general public including its existing customers and new customers. As a Business Correspondent for State Bank of India, he will focus and improve on synergy with the thrust of the already ongoing and fully digital small loan business under the SBI-Paisalo loan co-origination.

About Paisalo Digital Limited:

Paisalo Digital Limited is a systemically important non-deposit taking NBFC registered with the Reserve Bank of India. The company was incorporated in the year 1992 as a Private Limited Company, converted itself into a Public Limited Company in the year 1995 and got listed in the year 1996 through Initial Public Offering (IPO). Presently the company is listed on NSE and BSE.

Important facts for all competitive exams:

  • SBI Chairman: Dinesh Kumar Khara
  • SBI Headquarters: Mumbai.
  • Establishment of SBI: 1 July 1955.

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