Partnership among Punjab & Sind Bank and IHFL to boost MSME sector, generating employment & income

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New Delhi: Punjab & Sind Bank (PSB), a public sector bank, has entered into a strategic co-lending alliance with India bulls Commercial Credit and India bulls Housing Finance (IHFL) for MSME and Priority Sector Housing Loans respectively.

On the partnership between Punjab & Sind Bank and India bulls Commercial Credit and India bulls Housing Finance, S Krishnan, MD & CEO of PSB stated that the co-lending model will improve the flow of credit to the unserved and underserved sector of the economy and make available funds to the ultimate beneficiary at an affordable cost, considering the lower cost of funds from banks and the greater reach of the NBFCs/ HFLs.

He further said that the co-lending model would help the bank enhance its Retail and MSME portfolio and boost lending to the MSME sector, which will aid the growth of the economy and employment generation.

Kollegal V Raghvendra, Executive Director too said that the model is one of the innovative avenues of lending to the priority sector and the partnership would make available cheaper loans to the borrowers as compared to standalone loans given by NBFCs.