Central Bank of India inks co-lending pacts with Indiabulls Housing, IIFL Home Finance

Central Bank of India inks co-lending pacts with Indiabulls Housing, IIFL Home Finance

PTIUpdated: Monday, June 07, 2021, 05:05 PM IST
article-image
Central Bank of India inks co-lending pacts with Indiabulls Housing, IIFL Home Finance | Karthik Nadar

State-owned Central Bank of India on Monday announced co-lending partnerships with NBFC players Indiabulls Housing Finance and IIFL Home Finance.

Under this arrangement, non-banking finance companies (NBFCs) will originate and process retail home loans while Central Bank of India will take into its book 80 per cent of the housing loan under direct assignment transactions, the lender said in separate regulatory filings.

The bank said it has entered into strategic co-lending partnership with Indiabulls Housing Finance and IIFL Home Finance to offer housing loans under priority sector to homebuyers at competitive rates.

The partnership will result in a greater disbursement of housing loans by Central Bank of India, Indiabulls HFL and IIFL HFL, the bank said.

NBFCs will service the loan account throughout the life cycle of the loan.

The lender said this arrangement will help all the three players expand their reach across India.

In November last year, the Reserve Bank had announced a Co-Lending Model (CLM) scheme under which banks can provide loans along with NBFCs to priority sector borrowers based on a prior agreement.

RECENT STORIES

Tata Group-Owned Indian Hotels Net Profit Jumps 26.56% To ₹329 Crore In Q1 FY26, Revenue Rises To...

Tata Group-Owned Indian Hotels Net Profit Jumps 26.56% To ₹329 Crore In Q1 FY26, Revenue Rises To...

Hexaware Acquires 100% Stake In SMC Squared For ₹1,029 Crore To Boost Global Capability Centre...

Hexaware Acquires 100% Stake In SMC Squared For ₹1,029 Crore To Boost Global Capability Centre...

Waaree Renewable's Q1 Net Profit Rises 207% YoY To ₹86 Crore Despite Sequential Dip; Revenue Jumps...

Waaree Renewable's Q1 Net Profit Rises 207% YoY To ₹86 Crore Despite Sequential Dip; Revenue Jumps...

Gold Slips ₹200 To ₹98,670/10g, Silver Tumbles ₹500 To ₹1,10,500/Kg

Gold Slips ₹200 To ₹98,670/10g, Silver Tumbles ₹500 To ₹1,10,500/Kg

Axis Bank Q1 FY26 Net Profit Falls 4% To ₹5,806 Crore Amid Rise In Bad Loans

Axis Bank Q1 FY26 Net Profit Falls 4% To ₹5,806 Crore Amid Rise In Bad Loans