Kochi, July 15: South Indian Bank, one of the private sector bank, has entered into a Partnership with Muthoot MCred Limited to strengthen access to affordable housing finance and expand the reach of home loans.
Under the partnership, South Indian Bank‘s Affordable Housing Loans will be made available through select Muthoot MCred branches across various locations, enabling wider access to housing finance for eligible customers.
The partnership agreement was exchanged by Mr. P. R. Seshadri, Managing Director & CEO, South Indian Bank, and Mr. Mathew Muthoot, Managing Director, Muthoot MCred Limited.
The event was attended by Mr. Anto George T, Executive Vice President & Chief Operating Officer, South Indian Bank; Ms. Minu Moonjely, Chief General Manager & Head – Corporate Business Group, South Indian Bank; and Mr. P E Mathai, Chief Executive Officer, Muthoot MCred Limited.
By leveraging South Indian Bank‘s expertise in housing finance and Muthoot MCred‘s extensive branch network across South India, the partnership is expected to significantly enhance customer access to formal housing finance and strengthen the Bank‘s presence in the affordable housing segment.
The partnership also aligns with the Government of India’s vision of promoting affordable housing and supports flagship programmes such as the Pradhan Mantri Awas Yojana and the Credit Risk Guarantee Fund Trust for Low Income Housing . Through this collaboration, both institutions aim to enable wider access to affordable home loans while creating long-term value for customers and contributing to inclusive economic growth.
