by Suman Gupta
Mumbai, August 2023 : Agrim Housing Finance and Vastu Housing Finance Corporation Corp. have joined hands in a strategic co-lending partnership to bolster the availability of credit for affordable housing projects. This collaborative effort is in line with the Reserve Bank of India’s (RBI) co-lending model, aimed at facilitating seamless access to credit for underserved sections of society.
Under the co-lending framework, Agrim Housing Finance, a prominent player in the housing finance sector, will work in tandem with Vastu Housing Finance Corporation Corp. to provide a cohesive lending approach that combines the strengths of both non-banking financial companies (NBFCs) and banks. This synergistic approach ensures that affordable housing initiatives receive the necessary financial support to flourish.
Speaking about the collaboration, Dr Malcolm Athaide, CEO & Co-Founder of Agrim Housing Finance, expressed, “We are excited to partner with Vastu Housing Finance Corporation in this endeavour. This co-lending agreement will empower us to extend our reach and make affordable housing finance more accessible to deserving individuals and families. Together, we aim to contribute to the fulfilment of the ‘Housing for All’ mission.”
Vastu Housing Finance Corporation is known for its entrenched presence across 200+ semi-urban and rural markets in 14 states of India.”This collaboration deepens our commitment to bolster affordable housing initiatives nationwide. Harnessing our combined capabilities offers a pathway to driving positive transformation in the housing finance sector while advancing the cause of financial inclusion. We look forward to this journey,” said Sandeep Menon, Founder, MD and CEO, Vastu Housing Finance.
The co-lending agreement between Agrim Housing Finance and Vastu Housing Finance Corporation Corp. is poised to enhance the housing finance ecosystem by offering competitive interest rates and flexible repayment options. This collaboration will not only foster financial inclusion but also strengthen the distribution network, ensuring that a broader segment of society benefits from the partnership.
About Agrim Housing Finance Pvt Ltd: Agrim Housing Finance is a fintech solution provider which in its first phase is accelerating financial inclusion and reducing borrowing costs for affordable housing finance borrowers in the underserved segment of the society. Agrim HFC has developed considerable process innovations in relation to enabling the informal and migrant household sector to have access to affordable and reliable housing finance.
