Piramal Finance Partners with CSCs to Boost Lending in Underserved Areas

Piramal Capital & Housing Finance Ltd. (Piramal Finance) has teamed up with Digital India's Common Service Centers (CSCs) to enhance access to formal credit for underserved communities. The initiative aims to financially include individuals and MSMEs in semi-urban areas by leveraging CSC’s extensive network, furthering financial inclusion across various regions.

Piramal Capital & Housing Finance Ltd. (Piramal Finance) has entered into a partnership with Digital India's Common Service Centers (CSCs) to facilitate access to formal credit for underserved populations.

In August 2024 alone, this collaboration has facilitated the disbursement of over Rs. 100 Cr. in loans, predominantly targeting semi-urban areas and offering essential financial products such as home and business loans. Leveraging CSC's extensive network of over 6 lakh centers, the initiative aims to support budget-conscious customers in tier 2 and tier 3 cities.

Jairam Sridharan, Managing Director of Piramal Capital & Housing Finance Ltd., stated, "This partnership highlights our commitment to making credit accessible to the budget customers of Bharat. By working with CSC, we can create meaningful financial opportunities in previously overlooked areas." The collaboration is designed to empower first-time borrowers and underserved communities, aligning with the broader financial inclusion objectives of both entities.

(With inputs from agencies.)