In a significant move to enhance credit accessibility for middle and low-income borrowers, particularly in rural and semi-urban areas, Piramal Capital & Housing Finance Limited (Piramal Finance) has entered into a strategic co-lending partnership with Punjab & Sind Bank. This collaboration aims to strengthen financial inclusion by offering customised credit solutions at competitive rates, especially in Tier 2 and Tier 3 cities.
The partnership leverages Punjab & Sind Bank’s extensive network of 1,575 branches alongside Piramal Finance’s expansive reach across 514+ branches spanning 13,000 pin codes and serving 4.5 million customers across 26 states. By combining Punjab & Sind Bank’s deep financial expertise with Piramal Finance’s ‘High Tech + High Touch’ approach, the initiative seeks to address the credit needs of micro, small, and medium enterprises (MSMEs) as well as home loan seekers.
Jairam Sridharan, Managing Director, Piramal Finance, emphasized the importance of strategic partnerships in scaling financial impact across India. “This marks our fourth collaboration with a major financial institution, reinforcing our commitment to improving access to formal credit in underserved markets. By joining forces with Punjab & Sind Bank, we can extend financial support to deeper markets, empowering individuals and businesses while driving economic growth across Bharat.”
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Through robust underwriting frameworks, advanced credit assessment tools, and a customer-centric approach, the two lenders aim to bridge the credit gap and enhance financial security for millions. The collaboration underscores the shared vision of both institutions in fostering economic development and strengthening the financial ecosystem in India.
