SBI inks co-lending pact with IIFL HFL for affordable housing loans

25 Mar 2022 CW Team

IIFL Home Finance (IIFL HFL), a home finance company, has signed a co-lending agreement with State Bank of India (SBI), a public sector bank, for affordable housing loans.

It is SBI's first co-lending deal with a home finance firm. The loan sourcing and servicing will be handled by IIFL HFL. Under the arrangement, 80% of the loan will be rendered by SBI. IIFL HFL will service the customers throughout their entire loan cycle, from sourcing, documentation, disbursal to a collection.

As per the firm, this partnership will let it penetrate further into the affordable home loan segment.

IIFL HFL has disbursed loans totalling Rs 1,500 crore till February 28, 2022, under existing co-lending arrangements.

Earlier this year, IIFL HFL inked deals with banks like Union Bank for extending home loans, Central Bank of India and Punjab National Bank for extending home loans and Ministry of Micro, Small & Medium Enterprises (MSME) loans.

Dinesh Kumar Khara, Chairman of SBI, told the media that this partnership would improve their distribution network, as they aim to extend their credit reach to more home loan borrowers of the unserved and underserved segments.

IIFL HFL has been able to disburse subsidies under the Credit Linked Subsidy Scheme (CLSS) of more than Rs 1,270 crore to households since the rolling out of the scheme in June 2015. The firm recently signed a $68 million loan with Asian Development Bank (ADB) to improve financial access to affordable green housing for lower-income women borrowers in India.

The funding comprises a direct ADB loan of up to $58 million and a $10 million concessional loan by the Canadian Climate Fund for the Private Sector in Asia (CFPS). From ADB’s loan, 80% will be allocated for lending to women borrowers and 20% assigned to funding mortgages for green-certified houses.

Image Source

Also read: IIFL HFL inks $68 mn loan with ADB to fund affordable green housing

IIFL Home Finance (IIFL HFL), a home finance company, has signed a co-lending agreement with State Bank of India (SBI), a public sector bank, for affordable housing loans. It is SBI's first co-lending deal with a home finance firm. The loan sourcing and servicing will be handled by IIFL HFL. Under the arrangement, 80% of the loan will be rendered by SBI. IIFL HFL will service the customers throughout their entire loan cycle, from sourcing, documentation, disbursal to a collection. As per the firm, this partnership will let it penetrate further into the affordable home loan segment. IIFL HFL has disbursed loans totalling Rs 1,500 crore till February 28, 2022, under existing co-lending arrangements. Earlier this year, IIFL HFL inked deals with banks like Union Bank for extending home loans, Central Bank of India and Punjab National Bank for extending home loans and Ministry of Micro, Small & Medium Enterprises (MSME) loans. Dinesh Kumar Khara, Chairman of SBI, told the media that this partnership would improve their distribution network, as they aim to extend their credit reach to more home loan borrowers of the unserved and underserved segments. IIFL HFL has been able to disburse subsidies under the Credit Linked Subsidy Scheme (CLSS) of more than Rs 1,270 crore to households since the rolling out of the scheme in June 2015. The firm recently signed a $68 million loan with Asian Development Bank (ADB) to improve financial access to affordable green housing for lower-income women borrowers in India. The funding comprises a direct ADB loan of up to $58 million and a $10 million concessional loan by the Canadian Climate Fund for the Private Sector in Asia (CFPS). From ADB’s loan, 80% will be allocated for lending to women borrowers and 20% assigned to funding mortgages for green-certified houses. Image Source Also read: IIFL HFL inks $68 mn loan with ADB to fund affordable green housing

Infrastructure Urban

07 Oct 2025

India To Invest $37 Billion To Boost Petrochemical Capacity

India is set to become a major global player in the petrochemicals industry, driven by a planned capital expenditure of $37 billion (Rs 3.1 trillion) aimed at reducing import dependency and enhancing self-sufficiency, according to S&P Global Ratings.In its latest report titled “First China, Now India: Self-Sufficiency Goals Will Add To Petrochemicals Supply”, S&P said India’s large-scale capacity expansion—mirroring China’s earlier push—will likely intensify oversupply pressures in Asia’s petrochemical markets.Currently the world’s third-largest petrochemical consumer a..

Infrastructure Transport

07 Oct 2025

Indian Railways Expands Global Exports Of Rail Equipment

Indian Railways has announced that it is rapidly emerging as a global exporter of railway equipment, including bogies, coaches, locomotives, and propulsion systems, under the government’s ‘Make in India, Make for the World’ initiative.According to an official statement, India’s railway products are now reaching over 16 international markets, reflecting the country’s growing capacity to design, develop, and deliver world-class rail solutions.Metro coaches have been exported to Australia and Canada; bogies to the United Kingdom, Saudi Arabia, France, and Australia; propulsion systems t..

Infrastructure Transport

07 Oct 2025

RailTel Awards Rs 163 Million Contract To RTNS Technology

RailTel Corporation of India Limited (RailTel), a Mini Ratna Public Sector Undertaking, has awarded a domestic work order worth Rs 163 million to RTNS Technology Private Limited.The contract, issued on 30 September 2025, involves the supply and installation of equipment and related services for one of RailTel’s key customers. The project underscores RailTel’s commitment to advancing technology and communication infrastructure through collaboration with domestic system integrators.RTNS Technology Private Limited, an ISO-certified system integrator, provides comprehensive solutions for perim..