Money & Banking

Co-lending: Punjab & Sind Bank ties up with Indiabulls

KR Srivats New Delhi | Updated on September 14, 2021

Alliance to improve credit flow to unserved and underserved sector

Punjab & Sind Bank (PSB), a public sector bank, has entered into a strategic co-lending alliance with Indiabulls Commercial Credit and Indiabulls Housing Finance (IHFL) for MSME and Priority Sector Housing Loans respectively.

Commenting on the partnership, S Krishnan, MD & CEO of PSB said that the co-lending model will improve the flow of credit to the unserved and underserved sector of the economy and make available funds to the ultimate beneficiary at an affordable cost, considering the lower cost of funds from banks and greater reach of the NBFCs/ HFLs.

He also said that the co-lending model would help the bank enhance its Retail and MSME portfolio and boost lending to MSME sector, which will aid the growth of the economy and employment generation.

Kollegal V Raghvendra, Executive Director said that the model is one of the innovative avenues of lending to the priority sector. The partnership would make available cheaper loans to the borrowers as compared to standalone loans given by NBFCs.

Published on September 14, 2021

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