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KVB, Home Credit India tie up to disburse loans

Karur Vysya Bank has tied up with Home Credit India, the Indian unit of the international consumer finance provider, for joint lending using end-to-end automated processing. This is expected to help the customer get real-time approval and disbursement. Under the agreement, Karur Vysya Bank and Home Credit India will disburse loans in a single amount to customers. P.R. Seshadri, MD and CEO, Karur Vysya Bank, said the partnership would help the bank leverage Home Credit India’s large data base, reach out to a segment which it has not pursued aggressively in the past and enable the bank to provide other banking products to customers. Anirban Majumder, CFO, Home Credit India, said under this arrangement, the company would facilitate the sourcing and servicing of the loans originating under this scheme, while, underwriting would be done jointly on real time basis on a fully digitized platform. Home Credit India has operations spread over 179 cities across 20 States in India.

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