Overview

IIFL Finance Limited issued a press release on 7 July 2026 in Mumbai, stating that co‑lending partnerships between banks and non‑banking financial companies (NBFCs) can play a transformative role in expanding affordable formal credit to underserved borrowers, thereby strengthening the next phase of India’s financial inclusion.

Key Statements by Mayank Sharma

  • Mr. Mayank Sharma, Head – Gold Loan at IIFL Finance, emphasized that India’s financial inclusion journey must now focus on delivering timely, responsible credit to entrepreneurs, farmers, self‑employed professionals and MSMEs across Bharat.
  • He explained that banks contribute low‑cost capital and strong balance sheets, while NBFCs provide deep local market understanding, last‑mile distribution capabilities and established customer relationships in underserved geographies.
  • According to Sharma, the combination can improve credit access, accelerate loan disbursements and reduce reliance on informal sources of finance.
  • Sharma welcomed the Reserve Bank of India’s co‑lending framework, noting that it offers regulatory clarity on governance, risk‑sharing and customer protection, establishing a solid foundation for responsible collaboration.
  • He highlighted the role of the Government’s digital public infrastructure – Jan Dhan, Aadhaar, UPI and the Account Aggregator framework – in enabling the next generation of credit delivery.
  • Technology enablers such as digital onboarding, AI‑led underwriting and consent‑based data sharing were cited as means to make co‑lending more efficient.
  • For the MSME sector, Sharma pointed out that local NBFCs possess valuable insights into regional businesses and informal income patterns, allowing them to serve customers who may not fit conventional underwriting models.
  • He stated that the success of co‑lending will be measured by the number of entrepreneurs empowered, businesses financed and livelihoods supported.

About IIFL Finance

IIFL Finance is described as one of India’s leading retail‑focused NBFCs, offering a range of products including gold loans, home loans, business loans, micro‑finance, loans against property and capital market finance, with a strong emphasis on expanding financial inclusion across the country.