New Delhi: India Post Payments Bank (IPPB) and HDFC have entered into a strategic alliance to offer home loans to around 47 million customers of the payments bank. Leveraging its nationwide network of 650 branches and over 1,36,000 Banking Access Points (Post Offices), IPPB aims to make HDFC’s home loan products and its expertise available to its customers across India, HDFC said in a statement. Is.
A Memorandum of Understanding (MoU) on Strategic Alliance between IPPB and HDFC Ltd was signed on Monday. “The partnership aims to provide HDFC home loan facilities to customers, especially in unbanked and under-served areas, many of whom have little or no access to finance, so that they can own their own homes. to fulfill the dream. IPPB will offer housing loans through around 190,000 banking service providers (postmen and gramin dak sevaks).”
As per the MoU, credit, technical and legal evaluation, processing and disbursement for all home loans will be handled by HDFC Ltd, while IPPB will be responsible for sourcing the loan, it said. Speaking on the importance of tie-ups, IPPB MD J Venkataramu said that financial inclusion cannot be achieved without enabling access to credit as a significant portion of the customers do not have any banks or financial institutions around them. Provides housing loan.
He said the alliance aims to make housing loans available and accessible using a digitally enabled agent banking channel and to establish IPPB as a one-stop platform for all banking needs of customers including credit. Commenting on this partnership, Renu Sood Karnad, MD, HDFC said, “This alliance will go a long way in promoting affordable housing in the remotest places of our country in line with the vision of the Prime Minister for Housing for All.
Since its inception, IPPB has introduced a range of innovative and unique banking products and services catering to the needs and requirements of various customer segments and has also enabled last mile easy digital adoption through a supportive banking model. Used to be.
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