Both lenders will offer loans to the middle and low-income segment borrowers with a focus on rural and semi-urban regions. (Representative image)This partnership will cater to potential customers who are either new to credit or untapped by larger institutions and build a multi-product loan book.Private sector lender Axis Bank and Piramal Capital and Housing Finance (Piramal Finance), a Non-Banking Financial Company, announced a strategic partnership under the co-lending business.According to a statement by Piramal Finance, through this partnership, both lenders will offer loans to the middle and low-income segment borrowers with a focus on rural and semi-urban regions.Also Read: Axis Bank Hit With Rs 1.66 Cr Fine By FIU For Failing To Detect Fraud NSG AccountThe partnership will leverage the deep financial expertise of Axis Bank, and the loan processing technology of Piramal Finance, to assess the credit profile of borrowers and provide them loans at competitive interest rates through a network of 490 branches of Piramal Finance, the statement added.This partnership will cater to potential customers who are either new to credit or untapped by larger institutions and build a multi-product loan book.Jairam Sridharan, MD, Piramal Capital & Housing Finance, said, “This collaboration underscores our mutual commitment to providing credit to underserved markets. By leveraging Axis Bank’s expansive network and Piramal Finance’s deep reach, we are well-positioned to penetrate deeper geographies across Bharat. Together, our shared goal is to enhance accessibility to formal credit, drive growth, and realise the aspirations of customers across Bharat.”The collaboration between two lenders aims to cater to customers in the unorganised sector, including self-employed or salaried borrowers who have limited access to credit due to the lack of sufficient income proof.By combining their strengths, Axis Bank and Piramal Finance will address the credit gap faced by MSMEs and home loan borrowers by utilising their extensive customer reach, and rigorous credit underwriting and assessment tools.Namit Singh SengarNamit writes on personal finance, economy and brands. Currently contributing to News18.com as a Senior Sub Editor in the business vertical. Prior to t…Read More
Axis Bank, Piramal Finance Announce Partnership Under Co-Lending Business – News18
Related Posts
Nike CEO John Donahoe is out, replaced by company veteran Elliott Hill
John Donahoe, CEO of Nike, attends the annual Allen and Co. Sun Valley Media and Technology Conference at the Sun Valley Resort in Sun Valley, Idaho, U.S., July 10, 2024.Brendan…
Brazil X: Court fines Musk website for site’s brief return
Brazil has fined Elon Musk’s companies after some users in the country were able to briefly access the social media platform X, despite a ban imposed last month.Brazilian users swarmed…