KOCHI:
Axis Bank, India’s third largest private sector Bank and India Shelter Finance Corporation Ltd (IndiaShelter), a Gurgaon based Housing Finance Company, today announced a strategic partnership under the co-lending model. With this partnership, both lenders will be offering Secured MSME loans to middle and low income segment borrowers based in the semi-urban regions.
This partnership will leverage the deep financial expertise of Axis Bank and strong loan processing
technology of IndiaShelter to assess the borrower’s credit profile and offer them loan at an optimal
interest rates, ensuring seamless banking experience. The partnership will empower Axis Bank and
IndiaShelter to reach out to potential customers in informal segment who are new to credit and are
underserved by larger institutions.
Speaking on the collaboration, Munish Sharda, Group Executive & Head- Bharat Banking, Axis
Bank said, “Our partnership with IndiaShelter 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 mortgages 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, says, “IndiaShelter 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 substantial societal impact.”
