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Piramal Finance Limited yesterday announced a strategic co-lending partnership with Muthoot Fincorp Limited to expand access to affordable housing finance and MSME Loan Against Property (LAP) solutions across Bharat.
The partnership combines Piramal Finance's lending capabilities and distribution network with Muthoot Fincorp's customer reach and market presence. Together, the two institutions aim to make formal credit more accessible for aspiring homeowners, self-employed professionals and small business owners, particularly in Tier 2 and Tier 3 towns, as well as semi-urban and rural markets.
Under the co-lending arrangement, customers will benefit from easier access to affordable housing loans and MSME financing solutions through a seamless borrowing experience.
Jairam Sridharan, Managing Director & Chief Executive Officer, Piramal Finance Limited, said: "For a long time, India's growth story was viewed through the lens of its largest cities. Today, some of the exciting opportunities are emerging from smaller towns and markets across Bharat, where families are building homes and entrepreneurs are growing businesses. Access to formal credit has an important role to play in this journey. As these customers evolve, the financial services industry must evolve with them, and partnerships like this can help make that possible. That's what makes this partnership exciting for us."
The partnership reflects the shared commitment of both organization’s to expanding access to formal credit and supporting economic growth across Bharat.
Speaking on the partnership, Shaji Varghese, Chief Executive Officer, Muthoot FinCorp Ltd. says, "At Muthoot FinCorp, we are committed to building a financially inclusive, customer centric, and future ready ecosystem that expands access to meaningful financial solutions across India. Our partnership with Piramal Finance is a reflection of this commitment, bringing together complementary strengths to create greater value for customers."
He further added, “Through the co lending model, we are strengthening our ability to deliver accessible, responsible, and technology enabled credit solutions that address the evolving needs of individuals and businesses. As we continue our journey of empowering lives and livelihoods, strategic partnerships such as these will play an important role in driving inclusive growth and advancing financial empowerment at scale."
Vinod Reddy, Chief Business Office, Secured & Unsecured Lending Business, says, "At Muthoot FinCorp, we are committed to making formal credit more accessible, seamless, and relevant for our customers. Our co-lending partnership with Piramal Finance enables us to expand our reach and deliver timely financial solutions tailored to the evolving needs of individuals and businesses. By bringing together our complementary strengths, we are creating greater opportunities for customers to access responsible credit while advancing our shared vision of financial inclusion across India."