iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

SBI signs pact with Housing Finance Companies for co-lending of home loans

25 Mar 2022 , 11:24 AM

India’s largest lender, State Bank of India (SBI), has entered into a co-Lending agreement with 5 Housing Finance Companies (HFCs) that include PNB Housing Finance Limited, IIFL Home Finance Limited, Shriram Housing Finance Limited, Edelweiss Housing Finance Limited, and Capri Global Housing Finance Limited, to sanction Home Loans to the unserved and underserved sector in line with RBI guidelines.

Shortage in affordable housing continues to be a major concern for India, especially for the Economically Weaker Section (EWS) and the Informal Sections of the society. To further improve the penetration in this segment, SBI is actively looking at co-lending opportunities with multiple HFCs.

Speaking on this partnership, Dinesh Khara, Chairman, SBI, said, “We are glad to have joined hands with the HFCs under the co-lending program. This collaboration will enhance our distribution network, as we aim to extend our credit reach to more Home Loan borrowers of the unserved and underserved segments. Such partnerships align with our commitment to accelerate effective and affordable credit to small home buyers in India and contribute to the vision of “Housing for All by 2024”.

RBI had issued guidelines on the co-lending scheme for banks and HFCs/NBFCs for Priority Sector Lending to improve the flow of credit to the unserved and underserved sectors of the economy and make funds available to borrowers at an affordable cost. The co-lending model aims to give the borrower the best interest rate and better reach.

The partnership signed in Mumbai was handed over by Dinesh Khara, Chairman, SBI, to the respective Heads of the HFCs as mentioned above. Challa Sreenivasulu Setty, Managing Director, SBI, Saloni Narayan, Deputy Managing Director (RB), SBI, and Mahesh Goel, CGM (RE), SBI were present on the occasion.

Related Tags

  • Banking sector
  • Digital Channels
  • Dinesh Khara
  • Home Loans
  • Housing Finance Companies
  • IMPS
  • sbi
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.