RBL Bank & Piramal Finance partner to offer Co-Lending Business

By Gloria Mathias

RBL Bank, one of India’s private sector banks, and Piramal Capital and Housing Finance (referred to as Piramal Finance), a wholly owned subsidiary of Piramal Enterprises Limited (‘PEL’), a Non-Banking Financial Company, have announced a strategic partnership under their co-lending business.

Through this partnership, both lenders will offer loans to middle- and low-income segment borrowers with a focus on rural and semi-urban regions. This is the third co-lending partnership for Piramal Finance, following similar collaborations with Axis Bank and the Central Bank of India.

This collaboration combines RBL Bank’s financial expertise and branch network with Piramal Finance’s innovative ‘High Tech + High Touch’ approach, offering competitive interest rates and customised credit solutions to underserved communities. The partnership is set to bridge the credit gap, especially for those in the unorganised sector, and drive growth in India’s emerging markets.

RBL Bank’s financial expertise and extensive network of 2000+ touchpoints will be backed by Piramal Finance’s loan processing technology, ‘High Tech + High Touch’. The latter also brings an expansive network of 508 branches across 13,000 pin codes, serving 1.3 million active customers in 26 states. Together, the two lenders will address the credit gap for MSMEs and home loan borrowers, employing their combined customer reach, rigorous underwriting practices, and sophisticated credit assessment tools.

The collaboration aims to provide competitive interest rates and tailored credit solutions in Tier 2 and Tier 3 markets.

Jairam Sridharan, Managing Director, Piramal Capital & Housing Finance Ltd, said, “We are pleased to announce our co-lending partnership with RBL Bank, a prominent name in India’s financial sector. This collaboration is a significant step toward our shared mission of boosting financial inclusion by combining our strengths to extend formal credit access and empower individuals and businesses in underserved markets. Together, we are dedicated to driving economic growth, fostering opportunities, and helping customers across India fulfil their aspirations through formal financial support.”