To increase its customer base, Mahindra Finance has joined India Post Payments Bank.
In addition to providing lead referral services to MMFSL for the passenger vehicles, three-wheelers, tractors, and commercial vehicle loan categories, India Post Payments Bank (IPPB) will also offer existing MMFSL customers the ability to deposit cash for EMIs at post offices.
admin
To reach a larger customer base, Mahindra & Mahindra Financial Services Limited (MMFSL), a Non-Banking Finance Company within the Mahindra Group, is joining India Post Payments Bank (IPPB).
In accordance with this partnership, India Post Payments Bank (IPPB) will offer lead referral services to MMFSL for the passenger vehicle, three-wheeler, tractor, and commercial vehicle loan categories as well as provide existing MMFSL customers with access to cash EMI deposit facilities at post offices.
Ramesh Iyer, vice-chairman and managing director of Mahindra Finance, said, "At Mahindra Finance, our objective is to enable simplified yet reliable access to credit. We are happy to collaborate with IPPB that will enable us to access the large set of IPPB's network. The tie-up will also enable customers with financial security, empowerment, and ease of repayment.
Since its inception, IPPB has been committed to promoting financial inclusion among low-income and underbanked segments at the last mile by leveraging the unmatched network of post offices and technology-driven banking solutions, according to J Venkatramu, MD and CEO of IPPB. "Easy access to credit is an important prerequisite towards achieving inclusive growth," he added.
