Piramal Capital and Housing Finance Limited (referred to as Piramal Finance), a wholly owned subsidiary of Piramal Enterprises Limited (‘PEL’), and the Central Bank of India have formed a strategic agreement to expand their co-lending business. The alliance will offer loans to middle- and low-income borrowers, concentrating on rural and semi-urban areas.
This collaboration combines the Central Bank of India‘s financial knowledge and huge branch network with Piramal Finance’s ‘High Tech + High Touch’ strategy, which employs technology to deliver a seamless customer experience. With Piramal Finance’s extensive 500+ branch network spanning over 600 districts and 26 states across Bharat, this partnership will provide competitive interest rates and customised credit solutions to customers who are new to credit or underserved by larger financial institutions, with a focus on developing a diverse, multi-product loan book.
Jairam Sridharan, Managing Director, Piramal Capital & Housing Finance Ltd, said, “We are delighted to announce our co-lending partnership with Central Bank of India, one of the country’s oldest and most trusted financial institutions. This collaboration underscores our shared commitment to making formal credit more accessible in underserved markets. By leveraging Central Bank of India’s extensive network alongside Piramal Finance’s strong presence, we are well-positioned to reach deeper into geographies across Bharat. Together, our goal is to enhance access to formal credit, drive growth, and support the aspirations of customers throughout Bharat.”
Also read: Axis Bank Joins hand with Piramal Finance Under Co-Lending Business
This cooperation intends to help consumers in the unorganised sector, such as self-employed or salaried persons, who are frequently unable to obtain conventional credit due to lack of income verification. The combined experience and reach of the Central Bank of India and Piramal Finance will bridge the credit gap for MSMEs and home loan customers through effective customer engagement and comprehensive credit underwriting and assessment tools. Piramal Finance’s excellent track record of serving over 1.3 million active customers demonstrates its dedication to the retail lending sector in Bharat’s underserved markets.
