Piramal Finance Joins Punjab & Sind Bank to Bridge Rural Credit Gap

Piramal Finance and Punjab & Sind Bank have partnered in a co-lending initiative to enhance credit for middle- and low-income borrowers, focusing on rural and semi-urban areas. The collaboration aims to improve credit access for MSMEs and home loan seekers with competitive rates and customized solutions.

Piramal Capital & Housing Finance Limited has entered a strategic co-lending partnership with Punjab & Sind Bank to enhance credit access for middle- and low-income borrowers, emphasizing underserved rural and semi-urban regions. This marks Piramal Finance's fourth such collaboration with a major financial institution, following partnerships with Axis Bank, Central Bank of India, and RBL Bank.

The partnership combines Punjab & Sind Bank's robust financial network with Piramal Finance's 'High Tech + High Touch' approach to expand their reach. Piramal Finance has a significant presence across 514 branches in over 13,000 pin codes and serves 4.5 million customers in 26 states. This collaboration aims to address the diverse financing needs of underserved markets.

Jairam Sridharan, Managing Director of Piramal Finance, emphasizes the importance of partnerships in expanding formal credit access, driving economic growth, and empowering communities across India. The alliance will leverage advanced credit assessment tools to offer competitive interest rates and customized credit solutions, specifically targeting Tier 2 and Tier 3 cities to promote financial inclusion and economic development.

(With inputs from agencies.)