Medilytix Bureau:

Edelweiss Housing Finance Limited (EHFL) and ECL Finance Limited (ECLF) announced on Monday that they have entered into a strategic co-lending agreement for priority sector lending with PSB Indian Bank.

With this alliance, Edelweiss and Indian Bank, aim to create a conducive lending environment and democratise access to credit, channelising liquidity to those who need it the most, explained Edelweiss Group in an official statement.

The lenders recently signed a (Memorandum of Understanding) MoU under RBI’s Co-Lending Model (CLM), thus significantly expanding their portfolio of lending products available to the target customers, increasing their access to credit.

The group has stated that this alliance aims to leverage the combined strengths of the partners to make a winning proposition for all stakeholders including customers.

The firm explained that Indian Bank brings capital flows at low costs, which when combined with the group’s expertise on customer acquisition, credit assessment, servicing and robust technology, will help meet the expanding credit needs of customers.

This, Edelweiss Group noted, will also expand the reach to underserved markets, enabling Priority Sector borrowers to get credit at lower costs, given the blended rate of interest.

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