Mr. Jairam Sridharan, MD, Piramal Finance
(left) and Mr. Sanjay Rakesh, MD & CEO, CSC SPV, commemorate the successful
disbursement of over Rs. 100 Cr. in loans in August 2024 through their
partnership.
New
Delhi, September 17, 2024 : Piramal
Capital & Housing Finance Ltd. (Piramal Finance), a wholly-owned subsidiary
of Piramal Enterprises Ltd., has partnered with Digital India’s Common Service
Centers (CSCs) to meet the lending needs of Bharat by improving access to
formal credit for underserved individuals and MSMEs.
Through this collaboration, over Rs. 100 Cr.
has been successfully disbursed in August 2024 to boost credit availability in
semi-urban areas, providing essential financial products such as home and
business loans. By leveraging CSC's extensive network of over 6 lakh centers,
this initiative aims to support budget customers in tier 2 and tier 3 cities,
effectively addressing the financial needs of underserved regions and advancing
financial inclusion.
Jairam
Sridharan, Managing Director, Piramal Capital & Housing Finance Ltd., said, “This milestone
reflects our commitment to serving the budget customers of Bharat by making
credit more accessible. Our partnership with CSC allows us to create meaningful
financial opportunities in areas that have been overlooked. We are excited to
expand this initiative further, helping more families achieve their financial
goals and supporting small businesses in their growth."
Mr. Sanjay Rakesh, MD & CEO, CSC SPV, said, “Common Service Centers (CSCs)
are digital service hubs managed by local entrepreneurs under the Government of
India's Digital India initiative. They play a vital role in providing financial
products and services to rural citizens. Our partnership with Piramal Finance
aligns with our vision of financial inclusion, enhancing service reach in
underserved areas of Bharat. Together, we aim to meet the financing needs of
underserved MSMEs and promote a financially inclusive society across the
country.”
Piramal Finance will expand its loan offerings
through CSCs, targeting underserved regions to better serve individuals and
MSMEs in tier 2 and tier 3 cities. By combining technology with local outreach,
this partnership supports first-time borrowers and underserved communities,
contributing to financial inclusion goals and fostering sustainable growth in
lending. Customers can easily apply for loans at their nearest CSC with basic
documentation, ensuring greater accessibility to financial services.
About Piramal Capital &
Housing Finance Limited:
Piramal Capital & Housing Finance Limited (referred to as Piramal
Finance), a wholly owned subsidiary of Piramal Enterprises Limited (flagship
company of the Piramal Group), is a leading Non-Banking Financial Company -
Housing Finance Company (NBFC-HFC) engaged in retail and wholesale lending.
In retail lending, Piramal Finance is one of the leading players that
address the diverse financing needs of the under-served and unserved people of
the ‘Bharat’ market. It has over 1.3 million active customers and a presence in
26 states with a network of 501 conventional branches and 210 microfinance branches,
as on 30th June 2024. It offers multiple products, including home
loans, loans against property, used car loans, and small business loans to Indian
budget-conscious customers at the periphery of metros and in Tier I, II, and
III cities. In wholesale lending, it caters to both real estate as well as
non-real estate sectors and offers multiple products including construction
finance, structured debt, and senior secured debt.
For more information visit: piramalfinance.com
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