Central Bank of India moves up on entering into Co-Lending Partnership with IIFL Finance
Central Bank of India is currently trading at Rs. 36.65, up by 0.07 points or 0.19% from its previous closing of Rs. 36.58 on the BSE.
The scrip opened at Rs. 36.30 and has touched a high and low of Rs. 36.71 and Rs. 35.62 respectively. So far 261635 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52-week high of Rs. 47.28 on 24-Mar-2025 and a 52-week low of Rs. 32.81 on 09-May-2025.
Last one week high and low of the scrip stood at Rs. 37.79 and Rs. 34.97 respectively. The current market cap of the company is Rs. 33046.67 crore.
The promoters holding in the company stood at 89.27%, while Institutions and Non-Institutions held 5.67% and 5.05% respectively.
Central Bank of India has entered into Co-Lending Partnership with IIFL Finance to offer Loans at competitive rates, subject to compliance with the applicable law(s) including the revised Co-Lending Arrangements (CLA) guidelines issued by Reserve Bank of India (RBI). The participation by both the entities in this Co-Lending arrangement will result in greater expansion of portfolio by Central Bank of India and IIFL Finance.
Under the arrangement, IIFL Finance will originate loan proposals, which will be processed by both lenders as per jointly formulated credit parameters and eligibility criteria. The borrower will benefit from the blended interest rate charged. IIFL Finance will service the loan account throughout the life cycle of the loan. The Co-Lending arrangement is expected to help both the entities and the end borrower and will also help to expand customer outreach across India.
