"Empowering Growth: Piramal Finance Partners with Central Bank of India to Expand Accessible Loans for Underserved Communities"

 

Piramal Capital and Housing Finance (Piramal Finance), a subsidiary of Piramal Enterprises Limited, has teamed up with the Central Bank of India to expand their co-lending services. This partnership aims to provide accessible loans to middle- and low-income borrowers, particularly in rural and semi-urban areas.

The collaboration brings together the Central Bank of India’s deep financial expertise and wide branch network with Piramal Finance’s innovative ‘High Tech + High Touch’ approach. This strategy combines advanced technology with personalised service to create a smooth and efficient customer experience.

With Piramal Finance’s extensive reach, featuring over 500 branches across 600 districts in 26 states, this partnership will offer competitive interest rates and tailored credit solutions. It’s especially focused on helping customers who are new to credit or those who haven’t had access to larger financial institutions. The goal is to build a diverse portfolio of loan products that meet various needs.

Jairam Sridharan, Managing Director of Piramal Capital & Housing Finance Ltd., expressed his excitement about the partnership, saying, “We’re thrilled to collaborate with the Central Bank of India, one of the most respected financial institutions in the country. This partnership highlights our shared dedication to making credit more accessible in underserved markets. By combining the Central Bank of India’s extensive network with Piramal Finance’s strong presence, we can reach even more areas across India. Together, we aim to expand access to credit, support growth, and help fulfil the dreams of our customers.”

This partnership is particularly focused on supporting customers in the unorganized sector, including self-employed and salaried individuals who struggle to access formal credit due to lack of income documentation.

By leveraging the combined strengths of the Central Bank of India and Piramal Finance, this collaboration will help bridge the credit gap for MSMEs and home loan borrowers. Through strong customer outreach and comprehensive credit assessment tools, the partnership reinforces Piramal Finance’s commitment to retail lending in underserved markets across India.