Paisalo Digital, which had closed yesterday at Rs.885.75, opened today at Rs.900 and went on to hit a new 52-week high at Rs.930.50.

The stock hit a high on news that SBI has signed a Service Level Agreement with Paisalo Digital to provide services of business correspondent for the Bank.

This is for promoting financial inclusion by providing banking services through kiosks, mainly to the vast under serviced segments of the market, especially in semi urban and rural parts of India.

PaisaLo will focus on building greater synergies and a more aggressive roll out of their already up and running fully digital small loan business under SBI Paisalo Loan Co-origination.