Shares of non-banking financial company (NBFC) firm Paisalo Digital are in focus as the company has informed exchanges that it has entered into a co-lending loan arrangement for small and medium-sized enterprises (SMEs) with the State Bank of India (SBI). The counter started the session at Rs 31.84 on the BSE against the previous close of Rs 31.45 and touched the high of Rs 33.75 - a gain of 7.31 per cent. However, the stock pared early gains amid selling pressure and touched the low of Rs 31.44 but managed to end the session in the green at Rs 31.70.
The stock also experienced a significant increase in trading volume during the day, by more than 3.43 times. Around 13.04 lakh shares of the company changed hands today. This is higher than the two-week average volume of 3.80 lakh.
The stock's 14-day relative strength index (RSI) is 49.78. For the uninitiated, a level above 70 is considered overbought or overvalued, and below 30 is defined as oversold or undervalued.
Co-Lending Agreement
Under this arrangement, SBI and Paisalo will jointly fund loans for small and medium enterprises (SMEs). This initiative will enhance access to formal credit, particularly in tier-2 and tier-3 cities, as well as rural areas.
The SBI-Paisalo co-lending platform offers a fully digital process for loan origination, disbursement, servicing, and recovery, ensuring efficiency and transparency throughout.
" It is fully aligned with the Reserve Bank of India’s guidelines on co-lending of loans issued on November 5, 2020, which aim to deepen credit flow to priority sectors, including micro, small and medium enterprises (MSMEs), by leveraging the combined reach and strengths of banks and NBFCs," the company said.
Under this arrangement, the State Bank of India (SBI) and the NBFC will jointly fund loans for small and medium enterprises (SMEs).
This new co-lending arrangement is built upon the already operational co-lending digital platform established between Paisalo and SBI in 2021. According to the information shared, the SBI–Paisalo co-lending platform has successfully serviced over 94 lakh customers, with 3,565 touchpoints since its inception.
