Union Bank of India and Ambit Finvest tie-up for co-lending to MSMEs
Company News

Union Bank of India and Ambit Finvest tie-up for co-lending to MSMEs

Union Bank of India has announced the signing of a co-lending agreement with Ambit Finvest Private Limited, an Ambit Group non-deposit taking non-banking financial company (NBFC) that lends to Micro, Small and Medium Enterprise (MSME) clients.

The partnership with Ambit Finvest Pvt Ltd is part of Union Bank of India's strategy to serve the most deserving and under-served businesses, according to Lal Singh, CGM, MSME, in a statement. This initiative is also part of the Union Bank's commitment to helping Small and medium-sized enterprises (SMEs) grow faster and contribute to the country's economic development by providing tailored financial solutions.

In the 11 states currently covered by Ambit Finvest, this alliance will ensure underwriting for originations, which will have a positive impact on MSMEs' credit worthiness. Many SMEs face higher interest rates or are denied banking services.

MSMEs will now benefit from a blended lower rate of interest, resulting in a lower cost of funds, allowing them to deploy capital more effectively in their businesses, thanks to this innovative lending model. Ambit Finvest will also be able to expand its MSME footprint through a co-lending partnership with Union Bank of India.

Union Bank of India, also known as Union Bank (UBI), is an Indian government-owned bank with more than 120 million customers and $106 billion in assets. With around 9500 branches, the amalgamated entity became the fifth largest public sector units (PSU) bank in terms of branch network after the merger with Corporation Bank and Andhra Bank, which took effect on April 1, 2020.

Image Source

Also read: Union Bank of India takes over NRDA's property after loan default

Union Bank of India has announced the signing of a co-lending agreement with Ambit Finvest Private Limited, an Ambit Group non-deposit taking non-banking financial company (NBFC) that lends to Micro, Small and Medium Enterprise (MSME) clients. The partnership with Ambit Finvest Pvt Ltd is part of Union Bank of India's strategy to serve the most deserving and under-served businesses, according to Lal Singh, CGM, MSME, in a statement. This initiative is also part of the Union Bank's commitment to helping Small and medium-sized enterprises (SMEs) grow faster and contribute to the country's economic development by providing tailored financial solutions. In the 11 states currently covered by Ambit Finvest, this alliance will ensure underwriting for originations, which will have a positive impact on MSMEs' credit worthiness. Many SMEs face higher interest rates or are denied banking services. MSMEs will now benefit from a blended lower rate of interest, resulting in a lower cost of funds, allowing them to deploy capital more effectively in their businesses, thanks to this innovative lending model. Ambit Finvest will also be able to expand its MSME footprint through a co-lending partnership with Union Bank of India. Union Bank of India, also known as Union Bank (UBI), is an Indian government-owned bank with more than 120 million customers and $106 billion in assets. With around 9500 branches, the amalgamated entity became the fifth largest public sector units (PSU) bank in terms of branch network after the merger with Corporation Bank and Andhra Bank, which took effect on April 1, 2020. Image Source Also read: Union Bank of India takes over NRDA's property after loan default

Related Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code