Mumbai: Axis Bank and India Shelter Finance Corporation Ltd (India Shelter) announced a strategic partnership under the co-lending model on Wednesday. With this partnership, both lenders will be offering Secured MSME loans to middle and low-income segment borrowers based in the semi-urban regions.
Speaking on the collaboration, Munish Sharda, group executive & head, Bharat Banking, Axis Bank said, “Our partnership with India Shelter is in alignment with the Bank’s Bharat Banking mission of extending our reach in the remote regions and providing financial services in a seamless digital manner. Through this partnership, we will strengthen our presence in the mortgage segment, and help the bank augment its priority sector lending portfolio. We are excited about the opportunity as our digital co-lending platform allows the partnership to scale up fast, and offer a superior customer experience.”
Commenting on the partnership with Axis Bank, Rupinder Singh, MD & CEO, of India Shelter Housing Finance, added, “India Shelter has been at the forefront of helping first-generation semi-urban families get access to credit. We have been working towards solving funding needs for customers with undocumented income who are largely under-banked. With deep expertise developed over 12 years in underwriting the informal income segment loans for affordable homes and wide reach through its well-established Phygital Model, the partnership with Axis Bank will be an excellent opportunity for us to leap forward towards our goal of bringing financial inclusivity by penetrating deeper across the geographies and create sustainable growth having a substantial societal impact.”
