Paytm Deal Shriram Finance: One97 Communications Limited, the parent company of Paytm, has tied up with retail non-banking financial company (NBFC) Shriram Finance Limited to provide loans and other financial services to customers. The company has said that under this partnership, the products and services of Shriram Finance will be available on Paytm. With this, loan facilities will also be added to the business of digital platform and this will also lead to financial inclusion.
One97 Communications Limited, the company that operates Paytm, has tied up with retail non-banking finance company (NBFC) Shriram Finance Limited to offer loan products and other financial services to customers. The company has said that under this partnership, the products of Shriram Finance will be available on Paytm, which will also add loan facilities to the business of the digital platform and this will also lead to financial inclusion.
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Merchants on the Paytm network will be able to avail loans from Shriram Finance and this will then be extended to consumer loans as well. Umesh Revankar, Executive Vice Chairman, Shriram Finance Limited said, India is witnessing a huge growth in retail loan demand. It is likely to increase only with the greater participation of rural and urban India.
Vijay Shekhar Sharma, Founder and CEO, Paytm said, “With our new strategic partner, Shriram Finance, our commitment to expand credit delivery is further boosted. We are glad that together we will be able to offer loans to serve India’s small business partners and entrepreneurs.
