Chennai: Shriram Housing Finance Ltd has announced the signing of a co-lending agreement with State Bank of India (SBI) for priority sector affordable home loans. The two entities will jointly service housing loan customers as per the 20:80 co-lending model (CLM) of the Reserve Bank of India (RBI).
Commenting on the partnership, Ravi Subramanian, MD and CEO of Shriram Housing Finance said, ‘the demand for housing is immense in the affordable segment and we have barely scratched the surface. We are extremely excited to partner with SBI and together we would be able to serve a much larger customer base, especially borrowers at the bottom of the pyramid. Through the co-lending model, we intend to leverage the balance sheet strength of SBI and our underwriting capabilities.’