Mumbai: RBL Bank and Piramal Finance have announced joint loan partnerships aimed at providing loans to low -income borrowers in rural and half -cities. This marks the third joint lending collaboration in Piramal Finance after the same venture with AXIS Bank and India Central Bank.
RBL Bank, which has more than 2,000 touch points network, combines its financial expertise and a Piramal Finance technology -led loan processing system “High Tech + High Touch”. Piramal Finance, a subsidiary of Piramal Enterprises, has operated 508 branches in 26 states to provide services to 1.3 million active customers.
This partnership focuses on the credit gap between MSME and mortgage borrowers, especially in Tier 2 and Tier 3 markets. The loan is adjusted to meet the lack of services. According to Jairam SRIDHARAN, a manager of Piramal Finance, “I am glad to be able to announce a joint loan partnership with RBL Bank, a famous name of Indian financial sector.” This is an important step for our shared mission.
Both entities use a combination of customer contact, underwriting, and credit evaluation tools to provide competitive interest rates and formal credit access. SRIDHARAN said, “We are supporting BHARAT customers to satisfy their wishes through formal financial support.”
The joint loan model (CLM) started by India Bank (RBI) aims to strengthen the creditworthiness flow of banks and non -banking sectors by promoting the cooperation of banks and non -bank finance companies (NBFCS). I am. With this model released in 2018 and updated in 2020, banks use lower funds, especially in areas where services are inadequate. In this framework, banks and NBFC share credit risks at 80:20 ratio, and at least 20 % of loans are retained by NBFC until maturity.
Piramal Finance offers a variety of products, such as mortgages, loans for property, and used car loans, and ties 1, 2, and three cities around metro. The wholesale loan extends to the real estate and unrealistic real estate sector. This partnership aims to maintain a strict credit evaluation process, secure effective loans, and expand financial access to unprecedented markets.
