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IIFL HFL signed Co-Lending Agreement with PNB

Published on September 20, 2021
Current Context: The IIFL Home Finance Limited (IIFL HFL) has signed a co-lending agreement with Punjab National Bank (PNB).
IIFL HFL signed Co-Lending Agreement with PNB
  • The co-lending agreement aims to enhance the distribution of affordable housing loans and MSME loans.
  • As per the agreement, the 80% amount of the loan will be granted by PNB.
  • The IIFL HFL will manage loan sourcing, documentation, and other servicing work for loans.
  • The major focus states for loan distribution under the agreement are: Andhra Pradesh, Gujarat, Madhya Pradesh, and Karnataka.
  • The loans will be entitled to low-interest rates.
  • The IIFL HFL aims to enhance its loan business by 25% with this partnership.
  • Earlier IIFL HFL signed a similar co-lending agreement with ICICI Bank, Central Bank of India,  and Standard Chartered Bank.
  • Static Part: 
    • HQ of PNB: New Delhi
    • Tagline of PNB: The name you can bank upon


Q.1 With which bank has IIFL HFL signed a co-lending agreement to distribute affordable housing loans and MSME loans?
a. Canara Bank
b. Bank of Baroda
c. Punjab National Bank 
d. Union Bank of India

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