Home Credit India (HCIN), a local branch of the international consumer credit provider, has partnered with Karur Vysya Bank (KVB) for joint loans using automated end-to-end processing that will help the client obtain approval in real time and disbursement. The company said recent guidelines from the RBI had led the industry to explore partnership opportunities under the new framework with the aim of reaching the vast unbanked customer base.
Under the agreement, HCIN and KVB will provide lump sum loans to customers. Anirban Majumder, Chief Financial Officer of Home Credit India, said that under the deal, the company would facilitate the sourcing and servicing of loans from this program, while underwriting would be done jointly in real time on a platform. fully digitized form.
“With this partnership and taking advantage of the lower cost of funds from KVB, Home Credit India will be able to reach a new segment of clients. In the future, joint loan is an efficient and convenient way to lend for NBFCs. and I am happy that we were the first to do the same with a strong actor like Karur Vysya Bank ”, he declared.
PR Seshadri, Managing Director and CEO of Karur Vysya Bank, said the partnership would help the bank take advantage of HCIN’s extensive database, reach a segment it has not aggressively pursued in the past. and enable the bank to provide other banking products to customers.
Real Estate Credit India Finance Pvt. Ltd. is a local arm of the international consumer credit provider with operations spanning Europe and Asia and committed to fostering financial inclusion in India. Home Credit India operates in 179 cities in 20 Indian states.
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