Edelweiss Financial Services gains on partnering with Indian Bank

Edelweiss Housing Finance Limited (EHFL) and ECL Finance Limited (ECLF), announced a strategic co-lending agreement for Priority Sector Lending with Indian Bank which is known as one of the largest public sector banks in the country. An MoU has been signed by the lenders under RBI’s CLM, enlarging the portfolio of lending products available to the target customers, increasing their access to credit.

The partnership focuses on combining the strengths of the partners to make a winning proposition for all stakeholders including customers. When the capital flows at low cost by Indian Bank are combined with the expertise of Edelweiss in terms of customer acquisition, the credit assessment, servicing and robust technology, the expanding credit needs of customers will be duly catered. This will help in reaching underserved markets, enabling Priority Sector borrowers to obtain credit at lower costs, given the blended rate of interest. As the country gradually moves out of the pandemic, the credit offered through this partnership will provide customers with access to cost-effective capital, aiding their economic revival and growth.  

Edelweiss Group is one of India’s leading diversified financial services companies, providing a broad range of financial products and services to a substantial and diversified client base that includes corporations, institutions and individuals. Edelweiss’ products and services span multiple asset classes and consumer segments across domestic and global geographies.

On Monday, the share opened in green and gained up to 1 per cent. At 11.22 am, it was trading at Rs 74.2 per share, 0.88 per cent on the upper side.