Axis Bank and Piramal Capital and Housing Finance Ltd (PCHFL) have formed a partnership to co-lend in the micro, small, and medium enterprises (MSMEs) and home loan segments.
The collaboration aims to bridge the credit gap for MSMEs and home loan borrowers by leveraging their combined customer reach and advanced credit underwriting and assessment tools. The partnership will focus on offering loans to middleand low-income borrowers, particularly in rural and semi-urban areas.
This initiative targets customers in the unorganized sector, including self-employed or salaried individuals who often lack sufficient income proofs, making it difficult for them to access credit.
Axis Bank will bring its deep financial expertise, while Piramal Finance will contribute its advanced loan processing technology to assess borrowers’ credit profiles and offer loans at competitive interest rates. The loans will be provided through Piramal Finance’s network of 490 branches.
The partnership aims to cater to potential customers who are new to credit or underserved by larger financial institutions, building a diverse loan portfolio.
Jairam Sridharan, Managing Director of PCHFL, highlighted that the partnership leverages Axis Bank’s expansive network and Piramal Finance’s extensive reach to penetrate deeper into various regions across Bharat. The goal is to enhance access to formal credit, drive growth, and fulfill the aspirations of customers across the country.
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