Question
Download Solution PDFIn October 2021, which of the following banks has entered into a strategic co-lending partnership with IIFL Home Finance Ltd?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is Central Bank of India.
Key Points
- Central Bank of India has entered into a strategic co-lending partnership with IIFL Home Finance Ltd.
- It will offer SME LAP (loans against property) loan products under priority sector to MSME borrowers.
- Under this arrangement, lIFL Home Finance Ltd. will originate and process loans as per jointly formulated credit parameters and eligibility criteria.
Important Points
- Central Bank of India will take into its book 80% of the SME LAP Loans under mutually agreed terms.
- IIFL Home Finance will service the loan account throughout the cycle of the loan.
- IIFL Home Finance Ltd is an RBI regulated non-banking finance company with a pan India presence and has a track record of customer acquisition.
Last updated on Jun 25, 2025
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