New Delhi, March 11 -- Paisalo Digital share price rallied more than 3% on Tuesday after the company announced the country's largest PSU bank, State Bank of India (SBI), has invested in the Commercial Papers (CPs) issued by it. Paisalo Digital shares gained as much as 3.24% to Rs.36.96 apiece on the BSE.

The small-cap Non-Banking Financial Company (NBFC), Paisalo Digital said that its Operations and Finance Committee of Board of Directors has made an allotment of 600 commercial papers worth over Rs.29 crore to SBI on March 11.

Commercial papers are short-term debt instruments issued by companies to raise funds, and banks, including SBI, often invest in them as part of their liquidity management or to earn short-term returns.

In this ca...