The partnership leverages the financial expertise and extensive branch network of Central Bank of Indiaalong with Piramal Finance’s ‘High Tech + High Touch’ strategy, which leverages technology to deliver a seamless customer experience. With the presence of Piramal Finance’s vast network of over 500 branches spanning over 600 districts and 26 states in Bharat, this partnership will offer competitive interest rates and customized credit solutions to customers who are new to credit or under-served by larger financial institutions, focusing on developing a diversified, multi-product loan portfolio.
Jairam Sridharan, Managing Director of Piramal Capital & Housing Finance Ltd, said in a statement: “We are delighted to announce our co-lending association with the Central Bank of India, one of the oldest and most trusted financial institutions in the country. This collaboration underlines our shared commitment to making formal credit “More accessible in underserved markets. By leveraging the Central Bank of India’s extensive network along with Piramal Finance’s strong presence, we are well positioned to reach deeper into the geographies of Bharat. Together, we aim to improve access to formal credit, drive growth and support customer aspirations across Bharat.”
This partnership aims to serve customers in the unorganized sector, including self-employed or salaried workers who are often unable to access formal credit due to lack of documentation on their income. The combined expertise and reach of the Central Bank of India and Piramal Finance will help bridge the credit gap they face. SMEs and home loan borrowers through robust customer service and comprehensive credit assessment and underwriting tools. Piramal Finance’s proven track record of serving over 1.3 million active customers further underscores its commitment to the retail lending sector in the underserved markets of Bharat.
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