Central Bank of India has entered into a strategic co-lending partnership with Mamta Projects (MPPL) to provide borrowers with competitive micro, small and medium enterprise (MSME) loans.

The participation by both entities in this co-lending arrangement will result in a more significant portfolio expansion by the Central Bank of India and Mamta Projects.

Both the Central Bank of India and Mamta Projects have been co-lending arrangements, resulting in a more significant portfolio expansion. The project has a risk-analytics-focused lending institution. MPPL is an RBI-regulated non-banking financial company, and its business verticals include education loans, MSME lending, anchor-based financing and personal loans. Also, MPPL will service the loan account throughout the life cycle of the loan.

Hence, GOI holds a 93.08% stake in the Central Bank of India as this is a public sector bank.

On a consolidated basis, the net profit of the state-run bank hit a high 27.26% to Rs 318.17 crore on an 8.24% increase in total income to Rs 7,064.96 crore in July-September of FY23 over July-September of FY22.

On the Bombay Stock Exchange (BSE), the scrip slipped 1.14% to trade at Rs 30.40.