The State Bank of India (SBI) has entered into a co-lending agreement with five housing finance companies (HFCs), including PNB Housing Finance, IIFL Home Finance, Shriram Housing Finance, Edelweiss Housing Finance, and Capri Global Housing Finance, to sanction home loans to the unserved and underserved sectors, in accordance with RBI guidelines.
The scarcity of affordable housing remains a major concern in India, particularly for the economically weaker (EWS) and informal sections of society. SBI is actively seeking co-lending opportunities with multiple HFCs to increase its penetration in this segment.
Dinesh Khara, Chairman, SBI, said, “We are glad to have joined hands with the HFCs under the co-lending program. This collaboration will enhance our distribution network, as we aim to extend our credit reach to more home loan borrowers of the unserved and underserved segments. Such partnerships align with our commitment to accelerate effective and affordable credit to small home buyers in India and contribute to the vision of Housing for All by 2024”.
Dinesh Khara handed over the partnership signed in Mumbai to the respective heads of the HFCs. Challa Sreenivasulu Setty, MD, SBI, Saloni Narayan, Deputy MD (RB), SBI, and Mahesh Goel, CGM (RE), SBI were present on the occasion.
