On April 21, 2023, IMGC (India Mortgage Guarantee Corporation) announced a strategic partnership with Bajaj Housing Finance Ltd (BHFL) to improve access to affordable home loans for underserved populations in India. This collaboration aims to leverage IMGC's expertise in credit risk protection alongside BHFL's robust distribution and lending capabilities. The partnership specifically targets first-time homebuyers and individuals with limited credit histories or informal income profiles, addressing a significant credit gap in India's affordable housing sector. BHFL will utilize mortgage guarantee-backed solutions, including its Sambhav Loans, designed for customers with informal income, to ensure responsible lending practices. This initiative not only aims to expand housing finance access but also supports the development of a more inclusive housing finance ecosystem, helping bridge the housing credit gap across India.