Aadhar Housing Finance & UCO Bank enter into co-lending partnership

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Aadhar Housing Finance Ltd. & UCO Bank have enteredintoaco-lendingagreementtoofferHomeLoansat competitiveinterestrates.Throughthispartnership,theaimistoreachouttoalargesectionofsociety for providing easy, convenient, and efficient home finance solutions to customers from theeconomicallyweaker,lowerandmiddle-Incomegroups.
The co-lending framework of the Reserve Bank of India provides a tool for the Banksand the non-Banks to collaborate, leverage on their respective strengths to provideaffordablesolutiontotheunserved andunderservedsectionsofthesociety.
*Speaking on the occasion, Shri. Deo Shankar Tripathi, MD & CEO, Aadhar HousingFinancesaid,*“UCOBank’swidereach&trustinthemarket,coupledbyourownnetworkanddigital,state-of-the-artITinfrastructure,improvedcontrolandunderwritingfunctions,andincreasingcustomerreachanddistributioncapability;will
helpprovideefficientandeconomicalHomeLoansolutionstoawidegamutofcustomers across geographies, socio-economic groups and yield spectrum, to enableoptimumgrowth.”
*Speaking on the occasion, Shri. Atul Kumar Goel, MD & CEO, UCO Bank said,*“HomeLoanPenetrationinIndiaataround10%isoneofthelowestglobally.Pandemicinduceddemographicchanges,initiativestakenbyCentralandStateGovernmentssuchasPMAY,reductioninGSTonaffordableHousingandstampdutycutsetc.areexpectedtogiveafilliptoaffordableHousingespeciallyinTier-2andsmallercentres.
With Aadhar Housing Finance’s network of more than 300 Branches covering 12,000+locations, UCO Bank, through this strategic partnership, aims at achieving Co-LendingModel’s objective of improving flow of Credit to unserved and underserved sectors ofeconomybyprovidingaffordableHomeLoanstoeconomicallyweaker,LowandMiddleIncomegroups.”