IIFL Home, ICICI Bank Joined Hands for Affordable Housing, MSME loans

On December 19, 2020, IIFL (formerly India Infoline Limited) Home Finance Ltd, the subsidiary of IIFL Finance has joined hands with ICICI (Industrial Credit and Investment Corporation of India) Bank for sourcing and servicing arrangement to provide affordable housing and MSME (Micro, Small and Medium Enterprises) loans.

  • In this regard, Definitive agreements for the arrangement were executed by both entities.
  • As a part of tie-up, IIFL Home will hunt and then provide services to customers through the entire loan life-cycle including sourcing, documentation, collection and loan servicing while ICICI Bank will provide funding to these customers.

Recent Related News:

i.On November 5, 2020 ICICI Bank launched ‘ICICI Bank Mine’(inspired by ‘Millennial Network’), India’s first comprehensive banking programme for millennial customers, in the age bracket of 18-35 years old. It is a first of its kind proposition in industry. It is India’s 1st full banking stack for millennials.

ii.On November 19, 2020 ICICI Bank Ltd in partnership with Pine Labs launched ‘ICICI Bank Cardless EMI’(Equated Monthly Instalments). ICICI Bank becomes India’s first bank and first in industry to launch a fully digital payment mode, a cardless EMI facility at retail stores.

About ICICI Bank:

Establishment– 1955 (incorporated in 1994)
Managing Director (MD) & Chief Executive Officer (CEO)– Sandeep Bakhshi
Headquarters– Mumbai, Maharashtra
Tagline– Hum Hai Na, Khayal Apka

About IIFL Home Finance Ltd:
Chairman– S. Sridhar
Headquarter– Gurugram, Haryana

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