Aims to further deepen credit access in semi-urban and rural
regions of India
Mumbai, April 09, 2025: Piramal Finance
Limited (formerly known as Piramal Capital & Housing Finance Ltd.), a
leading Non-Banking Financial Company (NBFC), has partnered with ICICI Bank to
improve credit accessibility for middle and low-income borrowers, especially in
rural and semi-urban regions, focusing on Home Loans and Loan Against Property.
This collaboration strengthens Piramal Finance Limited’s position in India’s
semi-urban regions, reinforcing its commitment for providing easy and
affordable credit solutions to the borrowers.
Through this partnership, Piramal Finance Limited combines
its innovative ‘High Tech + High Touch’ approach with the financial and banking
expertise of ICICI Bank. Additionally, Piramal Finance Limited’s strong
presence across 510+ branches in 13,000 pin codes, serving 4.5 million
customers in 26 states, will further bolster outreach and accessibility.
Jairam Sridharan, Managing Director, Piramal
Finance Limited, said, “We are delighted to partner with ICICI
Bank for our co-lending collaboration, reinforcing our commitment for providing
easy and affordable credit access to the borrowers With rapid urbanisation,
rising incomes, and supportive Government initiatives driving growth in the
mortgage market, strategic partnerships like this are central to our mission of
serving India—making formal credit more accessible and empowering individuals
and businesses across the country.”
This partnership aims to expand access to mortgage
credit for MSMEs, home loan seekers through competitive rates and tailored
solutions. By focusing on Tier 2 and Tier 3 cities, it will provide affordable
credit and benefit borrowers across key sectors, and contribute to economic
growth. The collaboration aligns with the broader goal of strengthening India’s
credit ecosystem and ensuring greater financial security to individuals and businesses.
About Piramal Finance Limited:
Piramal Finance
Limited (formerly known as Piramal Capital & Housing Finance Limited), a
wholly owned subsidiary of Piramal Enterprises Limited (flagship company of the
Piramal Group), is a leading Non-Banking Financial Company 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 514 conventional branches, as on 31st
December 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 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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For Media Queries:
Mihir Mukherjee
Head – Corporate Communication
For Investors:
Ravi Singh
Head – Investor Relations &
Sustainability
About ICICI Bank: ICICI Bank Ltd (BSE: ICICIBANK, NSE: ICICIBANK and NYSE:IBN)
is a leading private sector bank in India. The Bank’s total assets stood at
₹20,13,343 crore at December 31, 2024.