CashNews.co
The collaboration combines Central Bank of India’s extensive branch network with Piramal Finance’s technological approach to lending, which emphasizes both digital efficiency and personalized service.
Through Piramal Finance’s 500+ branch network across 600 districts and 26 states, the partnership aims to offer competitive interest rates and tailored credit solutions to borrowers who are new to credit or underserved by traditional financial institutions.
Jairam Sridharan, Managing Director of Piramal Finance, highlighted the partnership as a step towards increasing access to formal credit in underserved markets. He emphasized the potential of the combined networks to reach deeper into regions across Bharat, aiming to support the financial needs of customers often excluded from formal credit due to limited income documentation.
This initiative is particularly aimed at addressing the credit needs of individuals in the unorganized sector, including self-employed and salaried workers. By leveraging their combined expertise, Piramal Finance and Central Bank of India intend to bridge the credit gap for MSMEs and home loan borrowers.