Central Bank of India announces Co-Lending Partnership with Godrej Housing Finance Ltd

Central Bank of India has announced a strategic partnership with M/s. Godrej Housing Finance Ltd. to offer Housing Loans at competitive rates, subject to compliance with the applicable law(s) including the applicable guidelines issued by Reserve Bank of India (RBI). The participation by both the entities in this Co-Lending arrangement will result in greater expansion of portfolio by Central Bank of India and M/s. Godrej Housing Finance Ltd.

M/s. Godrej Housing Finance Ltd. is a Housing Finance Company, registered with National Housing Bank (NHB). Godrej Housing Finance which is part of Godrej Industries Group is a leading Housing Finance Company having operations across multiple states. It has presence in prime, mass-market and affordable housing segment of housing finance.

Under the arrangement, M/s. Godrej Housing Finance Ltd. will originate and process Housing Loan proposals as per jointly formulated credit parameters and eligibility criteria and Central Bank of India will take into its books upto 80% of the Home Loans under mutually agreed terms. M/s. Godrej Housing Finance Ltd. will service the loan accounts throughout the life cycle of the loans. The Co-Lending arrangement is expected to help both the entities to offer convenient experience and customer delight to their customers as well as help expand their reach across India.

Shares of Central Bank of India was last trading in BSE at Rs. 37.97 as compared to the previous close of Rs. 38.00. The total number of shares traded during the day was 846227 in over 2647 trades.

The stock hit an intraday high of Rs. 38.80 and intraday low of 37.76. The net turnover during the day was Rs. 32404619.00.

Source : Equity Bulls

Keywords

CentralBankofIndia INE483A01010 CoLendingPartnership GodrejHousingFinance