RBL Bank, a leading private sector bank in India, and Piramal Capital and Housing Finance Limited (PCHFL), a subsidiary of Piramal Enterprises Limited, have formed a strategic partnership under their co-lending business. The partnership aims to provide loans to middle and low-income borrowers, with a focus on rural and semi-urban regions. RBL Bank’s financial expertise and extensive network of 2000+ touchpoints will be combined with PCHFL’s cutting-edge loan processing technology, “High Tech + High Touch”, which includes an expansive network of 508 branches across 13,000 pin codes, serving 1.3 million active customers in 26 states.
The collaboration will address the credit gap for MSMEs and home loan borrowers, leveraging the combined customer reach, rigorous underwriting practices, and sophisticated credit assessment tools of both lenders. The partnership plans to offer competitive interest rates and tailored credit solutions in Tier 2 and Tier 3 markets. Jairam Sridharan, Managing Director of PCHFL, expressed his enthusiasm for the partnership, stating that it is a significant step towards boosting financial inclusion by combining strengths to extend formal credit access and empower individuals and businesses in underserved markets. The goal is to drive economic growth, foster opportunities, and help customers across India fulfill their aspirations through formal financial support.