IIFL Home Finance Partners with Common Services Centre (CSC) to Expand Rural Reach
Services to be launched in Andhra Pradesh, Telangana, Karnataka, Gujarat, & Madhya Pradesh in the first phase
National, 16th January 2025: IIFL Home Finance Ltd., India’s leading affordable housing finance company, announces a strategic partnership with Common Services Centre (CSC), a dedicated network of Village Level Entrepreneurs (VLEs) under the Ministry of Electronics & Information Technology (MeitY), Government of India. The collaboration aims to utilize CSC's digital platform, spanning 6 lakh CSC centers across the country to facilitate home finance queries and lead generation in different states of India.
The partnership leverages CSC's extensive network, which hosts a variety of services such as credit enablement, EMI collection, and banking services in remote locations. IIFL Home Finance foresees tremendous potential in this collaboration to extend its reach beyond Tier 1 and 2 markets, addressing the needs of customers in Tier 3, 4, and 5 locations who are underserved in terms of loan disbursement and home ownership.
Initially, IIFL Home Finance will begin disbursements under the given partnership in Andhra Pradesh, Telangana, Madhya Pradesh, Gujarat, and Karnataka, with further plans to penetrate deeper in regional markets.
Mr. Monu Ratra, ED and CEO, IIFL Home Finance, said, “Our partnership with CSC represents a significant milestone in our mission to make affordable housing accessible to every household. By partnering with CSC and leveraging its extensive pan-India network, particularly in semi-urban areas, we will significantly expand our reach. Our technology-driven processes are designed to make the home loan journey as smooth and hassle-free as possible. This collaboration reflects our dedication to financial inclusion and aligns with the government's vision of ensuring Housing for All.”
Mr. Sanjay Kumar Rakesh, MD and CEO, Common Services Centre (CSC), on the tie up adds, "Partnership with IIFL Home Finance is perfectly aligned with our mission to felicitate essential finance services within the rural belts. By integrating home finance solutions of IIFL Home Finance into our platform, we're empowering our representatives to play a crucial role in making the dream of home ownership a reality for the EWS and LIG category. Our network of 6 lakh CSC centers across 2.5 lakh Gram Panchayats will now serve as a bridge, connecting aspiring homeowners with the Company’s affordable housing solutions."
The company will offer Home Loans to start with and would further expand the bouquet of services in Tier 2, 3 and 4 markets. The initiative is not only a testament to IIFL Home Finance's commitment to financial inclusion but also aligns seamlessly with the Government of India's Pradhan Mantri Awas Yojana 2.0 (PMAY 2.0), which emphasizes "Housing for All" by providing affordable housing to the economically weaker sections of society.
By leveraging CSC's extensive network, IIFL Home Finance is poised to become the partner of choice for millions of aspiring homeowners in underserved rural markets, reinforcing its leadership in the affordable housing sector and driving forward the national agenda of inclusive growth.
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