Jammu and Kashmir Bank has entered into co-lending partnerships with leading non-banking financial companies to strengthen its retail lending business, particularly in the home loan and gold loan segments, while expanding its footprint beyond the Union Territory.
Under the arrangement, the bank has partnered with Home First Finance Company India Limited for home loans and IIFL Finance for gold loans. The initiative is aimed at improving credit accessibility while accelerating the bank’s retail lending growth across the rest of India.
The memorandum of understanding was signed at the bank’s Jammu Zonal Office in the presence of Amitava Chatterjee, Managing Director and Chief Executive Officer, Jammu and Kashmir Bank. The event was also attended by senior leadership including Sudhir Gupta, Executive Director, along with Sunit Kumar, Imtiyaz Ahmad Bhat and Rajesh Malla Tickoo, and other senior officials.
The agreements were signed on behalf of the bank by General Manager Rakesh Magotra. Manoj Viswanathan, Managing Director and Chief Executive Officer, Home First Finance Company India Limited, and Kirti Timmanagoudar, Senior Vice President and Head of Strategic Alliances, IIFL Finance, signed the agreements for their respective organisations.
Senior representatives from Home First Finance Company India Limited, including Ajay Khetan, Deputy Chief Executive Officer and Chief Business Officer, Head of Treasury and Sunil Anjana, Investor Relations and, Ajinkya Chandorkar, Product Lead for Co-lending, were also present during the signing ceremony.
Speaking on the occasion, Amitava Chatterjee, MD and CEO, J&K Bank, described the partnerships as an important milestone in the bank’s retail lending expansion. He noted that the co-lending model brings together the bank’s strong deposit base and wide branch network with the specialised credit delivery capabilities of NBFC partners, enabling faster and more efficient credit distribution.
He further highlighted that the collaboration would help the bank strengthen its presence in the rest of India by reaching new customer segments and delivering technology-enabled lending solutions in key retail categories.
Sudhir Gupta, Executive Director, J&K Bank, also expressed confidence that the partnerships would create strong operational synergies and contribute to expanding responsible credit delivery.
Earlier, Rakesh Magotra, General Manager, briefed the bank’s leadership on the strategic importance of the collaboration, emphasising that partnerships are increasingly becoming an important growth driver in the evolving financial services landscape. He noted that the co-lending arrangements would help extend the bank’s credit outreach in the housing and gold loan segments across markets beyond its traditional base.
Representatives of both NBFC partners welcomed the collaboration, stating that the bank’s established credibility and growing presence across emerging business centres make it a strong partner for expanding responsible lending in retail segments.
Through these partnerships, Jammu and Kashmir Bank aims to further strengthen its retail lending ecosystem while accelerating its growth strategy across markets outside the Union Territory.
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