Edelweiss Housing Finance (EHFL) and ECL Finance (ECLF), today announced a strategic co-lending agreement for Priority Sector Lending with Indian Bank, one of the largest public sector banks in the country. The lenders recently signed a MoU under RBI's CLM, significantly expanding the portfolio of lending products available to the target customers, increasing their access to credit.
The alliance aims to leverage the combined strengths of the partners to make a winning proposition for all stakeholders including customers.
Indian Bank brings capital flows at low costs, which when combined with Edelweiss' expertise on customer acquisition, credit assessment, servicing and robust technology, will help meet the expanding credit needs of customers. This will expand the reach to underserved markets, enabling Priority Sector borrowers to get credit at lower costs, given the blended rate of interest. As the country gradually moves out of the pandemic, the credit offered through this partnership will provide customers with access to cost effective capital, aiding their economic revival and growth.
With this alliance, Edelweiss and Indian Bank, aim to create a conducive lending environment and democratise access to credit, channelizing much needed liquidity to those who need it the most.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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