Expand the distribution of commercial loans to small towns and villages in India
One 97 Communications (Paytm) announced a partnership with Piramal Capital & Housing Finance, here referred to as Piramal Finance, to expand the distribution of commercial loans to small towns and villages in India.
Piramal Capital & Housing Finance is a wholly owned subsidiary of Piramal Enterprises and a financial services company established in India.
This partnership will expand Paytm’s loan distribution business, supported by Piramal Finance’s extensive network of over 300 branches across India. It will also help drive financial inclusion by facilitating access to credit for small businesses and retailers.
Paytm has acquired a large number of merchants from big and small cities across the country, amassing a large base that Piramal Finance plans to leverage and facilitate credit to small business owners through data-driven underwriting along with credit-based sanctions business income. In addition, this partnership will soon be expanded to include personal loans, where Piramal Finance brings its deep understanding of risk and customer segment.
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(This story has not been edited by Business Standard staff and is automatically generated from a syndicated feed.)
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