announced on Wednesday that it has been appointed as a Business Correspondent (BC) partner for Indian Overseas Bank (IOB), expanding its Banking-as-a-Service (BaaS) platform that already includes State Bank of India and Bank of India.
The stock closed at ₹34.21 on the NSE on March 25, 2026, down 0.26 per cent from the previous close of ₹34.30. Shares touched an intraday high of ₹34.80 before retreating, ending the session with a volume-weighted average price of ₹34.33.
The new partnership adds a third public-sector bank to Paisalo’s BC network, through which the Agra-headquartered NBFC delivers last-mile banking services including account opening, deposits and withdrawals, remittances, and social security schemes to rural and semi-urban customers.
Paisalo described the expansion as supporting a “capital-light” growth model, arguing that BC operations allow the company to widen its distribution footprint without taking on additional balance-sheet risk. The company currently operates 4,872 touch points across 22 states and union territories.
Santanu Agarwal, Deputy Managing Director, said the IOB appointment validates the company’s compliance and governance frameworks and positions the BC business as a long-term customer engagement franchise rather than a purely transactional channel.
Paisalo Digital focuses on small-ticket income-generation loans for borrowers at the lower end of India’s economic pyramid.