Axis Bank signed co-lending pact with Autotrac Finance through Yubi: Axis Bank, India’s third largest private sector bank and Autotrac Finance Limited Ltd (AFL), a Gurgaon based Non-Banking Financial Company, announced its strategic partnership under the co-lending model through the Yubi Co.Lend platform. Through this partnership, both lenders will offer ‘New Tractor Loans’ for the Agricultural and Allied activities to cater the financial needs of the rural segment in the country.
This partnership will leverage the wide customer experience of Autotrac Finance and the deep financial expertise of Axis Bank to enable easy credit availability for farmers.
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Speaking on the collaboration, Mr. Munish Sharda, Group Executive & Head – Bharat Banking, Axis Bank said,” Our partnership with AFL is in alignment with the Bank’s Bharat Banking mission of extending our reach in the remote regions, and providing financial services in a seamless digital manner. With this collaboration, we will increase our presence in the New Tractor business and improve access to formal credit to the farming community of the country. We are excited about the opportunity as our digital co-lending platform allows the partnership to scale-up fast at a lower operating cost, offering a superior customer experience.”
Axis Bank CEO: Amitabh Chaudhry.
