Corporate News     09-Aug-23
Central Bank of India enters into co-lending partnership with DMI Housing Finance
To offer home loans and MSME loans
Central Bank of India has entered into a strategic Co-Lending Partnership with DMI Housing Finance to offer Home Loans and MSME Loans.

DMI Housing Finance is registered with National Housing Bank since 20 September 2012. The NBFC is engaged in providing Home Loans and MSME Loans, especially to those in the lower income and economically backward segments. With a present AUM of Rs 1100 crore, DMI Housing Finance has its presence in 46 branches in 9 states and constantly focusses on expanding their branch network to reach out to more customers and serve them better.

Under the arrangement, DMI Housing Finance will originate and process Home and MSME Loan proposals as per jointly formulated credit parameters and eligibility criteria and Central Bank of India will take into its books 80% of the Home and MSME Loans under mutually agreed terms. DMI Housing Finance will service the loan accounts throughout the life cycle of the loan. 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.

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