Muthoot Microfin Partners with SBI to Empower Women Entrepreneurs

Muthoot Microfin announced a strategic co-lending partnership with the State Bank of India to extend financial services to women entrepreneurs in rural and semi-urban areas. The collaboration aims to meet the growing demand for cost-effective financial products and services among women engaged in agricultural and income-generating activities.

Muthoot Microfin has entered into a strategic co-lending partnership with the State Bank of India (SBI), the Kochi-based microfinance institution announced on Thursday.

According to the agreement, both entities will co-lend to Joint Liability Groups (JLGs) involved in agriculture and income-generating activities, with loan amounts ranging from Rs 10,000 to Rs 3 lakh.

This collaboration aims to extend Muthoot Microfin's financial services to women entrepreneurs in rural and semi-urban areas, meeting the growing demand for cost-effective solutions. ‘With this partnership, we can offer a wider range of products and services to our clients,’ said Muthoot Microfin CEO Sadaf Sayeed.