Central Bank of India has introduced Repo Linked Interest Rate (RLIR) in the Bank. They will start offering Repo linked Home loan product and Vehicle loan product with effect from September 1, 2019.
Existing borrowers will also be given an option to switch over to the new repo linked interest rate at a fee as decided by the Bank.
Further, ECL Finance Ltd, a subsidiary of Edelweiss Financial Services, and Central Bank of India have signed an agreement for priority sector lending to Micro, Small and Medium Enterprise (MSME) customers.
The partnership comes after the Reserve Bank of India announced progressive Co-Origination Policy in September 2018, allowing banks and NBFCs to co-lend to a wider set of enterprise owners, a BSE filing by Edelweiss Group said.
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