Paytm Deals Sriram Finance: One97 Communications Limited, the parent company of Paytm, has tied up with retail non-banking financial institution (NBFC) Shriram Finance Limited to provide loans and other financial services to customers. The company said that under this partnership, Sriram Finance’s products and services will be available on Paytm. Through this, credit facilities will also be added to digital platform businesses and thereby financial inclusion.
One97 Communications Ltd, the company that operates Paytm, has tied up with retail non-banking finance company (NBFC) Shriram Finance Ltd to provide loan products and other financial services to consumers. The company said that under this partnership, Sriram Finance’s products will be available on Paytm, which will add business lending to the digital platform and will also lead to financial inclusion.
Merchants on the Paytm network will be able to get loans from Shriram Finance and then it will expand to consumer loans as well. Umesh Revankar, Executive Vice Chairman, Sriram Finance Limited, said, India is witnessing a huge growth in the demand for retail loans. It is only likely to grow with greater participation from 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 has further increased. We are delighted that together we will be able to offer loans to serve India’s small business partners and entrepreneurs.
