J&K Bank has partnered with two non-banking financial companies to expand its retail lending business, particularly outside Jammu and Kashmir, focusing on home and gold loans.
The bank signed co-lending agreements with Home First Finance Company India Limited for home loans and IIFL Finance for gold loans, the bank said on Saturday.
The agreements were signed at the bank’s Jammu zonal office in the presence of Managing Director and Chief Executive Officer Amitava Chatterjee and Executive Director Sudhir Gupta, along with senior officials from the bank and partner institutions.
Under the co-lending model, banks and NBFCs jointly finance loans, combining the bank’s deposit base and branch network with the NBFCs’ credit delivery mechanisms.
Chatterjee said the partnerships would help the bank expand credit access and strengthen its retail lending presence across markets outside the Union Territory.
“Co-lending allows us to combine our distribution network with the NBFCs’ expertise to accelerate credit delivery and reach new customer segments,” he said.
Gupta said the collaboration would help the bank expand responsible credit delivery while creating new growth opportunities.
The agreements were signed on behalf of J&K Bank by General Manager Rakesh Magotra, while Manoj Viswanathan and Kirti Timmanagoudar of IIFL Finance represented their respective institutions.
Bank officials said the partnerships would help expand lending in housing and gold loan segments, particularly in markets across the rest of India.
Representatives of the NBFCs said J&K Bank’s growing presence in emerging business centres made it a suitable partner for expanding retail credit delivery.
Published on March 8, 2026
