Punjab National Bank, Aadhar Housing Finance form co-lending partnership

 GUWAHATI: Punjab National Bank (PNB) and Aadhar Housing Finance Ltd have entered into a co-lending agreement to offer home loans at competitive interest rates.

Through this partnership, the aim is to reach out to a large section of society - that is, economically weaker, lower, and middle-income groups - for providing easy, convenient, and efficient home finance solutions to customers, informed a press release.

The co-lending framework of the Reserve Bank of India (RBI) provides a tool for the banks and NBFCs/HFCs to collaborate, leverage on their respective strengths to provide affordable solution to the un-served and under-served sections of the society.

The agreement was signed in presence of Kalyan Kumar, Binod Kumar, M Paramasivam, executive directors, Sunil Kumar Chugh, Chief General Manager of Punjab National Bank and Rishi Anand, Managing Director & Chief Executive Officer, DS Tripathi, Executive Vice Chairman from Aadhaar Housing Finance Ltd.

Punjab National Bank, India's first Swadeshi Bank, commenced its operations on April 12, 1895. As at the end of September, 2022, PNB has a total of 43,451 delivery channels with a network of 10,038 domestic branches, 2 international branches, 12,966 ATMs and 20,447 business correspondents.

PNB is the second-largest Public Sector Bank (PSB) in the country. The bank continues to maintain its forte in low-cost CASA deposits with a share of 44.91 per cent. The bank's focus has been on qualitative business growth, recovery and arresting fresh slippages. PNB has constantly been achieving national goals and targets allocated under flagship schemes of the nation for uplift and employment of targeted groups.

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