On Saturday IIFL Finance said that “It’s home loan subsidiary has tied up with ICICI Bank to provide affordable housing and MSME loans.”
IIFL Finance said in a regulatory filing that “IIFL Home Finance Ltd. and ICICI Bank have entered into a sourcing and servicing arrangement to partner in extending credit to the affordable housing loans & MSME LAP (Loan Against Property).”
In also addition, Under the tie-up, where one side IIFL Home will originate and service customers via the entire loan life-cycle including sourcing, documentation, collection, and loan servicing, and in turn, their other side ICICI Bank will provide funding to these customers.
Further, the filing said that “Definitive agreements for the arrangement, including the sourcing agent agreement and service provider agreement were executed between IIFL Home and ICICI Bank on December 18”.
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