New Delhi : India Post Payments Bank (IPPB), a Government of India undertaking andAditya Birla Capital Limited (‘ABCL’), India’s leading diversified financial service company has announced their strategic partnership to broaden the reach and accessibility to loan products across Bharat.
This partnership integrates Aditya Birla Capital’s diverse suite of lending products with IPPB’s extensive network and digital infrastructure, aiming to provide seamless credit access to IPPB customers nationwide. Through this collaboration, IPPB will provide referral service for Aditya Birla Capital’s wide range of loan solutions including personal loans, business loans, and loan against property to its existing customer base.
IPPB Customers will be able to avail loan facilities through Aditya Birla Capital’s state-of-the-art digital platforms ensuring a streamlined process for quick approvals, minimal documentation and hassle-free disbursement. This ecosystem integrates cutting-edge AI and data analytics to offer personalized financial solutions, catering to the diverse needs of customers across the length and breadth of the country.
Sharing his thoughts on the partnership, R. Viswesvaran, MD & CEO, India Post Payments Bank, said, “We are delighted to partner with Aditya Birla Capital to bring their diverse suite of lending products to our customers. This partnership will ensure that our customers will have easy access to credit through a simplified digital loan application process with flexible options. This collaboration is consistent with our vision of ensuring that full suite of best in-class banking products and services are available to every common man in India.”
Rakesh Singh, Executive Director & Chief Executive Officer (Designate) – NBFC, Aditya Birla Capital Limited, said, “This partnership aligns with our vision to enhance financial inclusion and provide easy access to credit for individuals and businesses. Leveraging India Post Payments Bank’s extensive reach and our simplified digital loan application process, we aim to serve a larger customer base with convenient and flexible loan options.”
This collaboration highlights IPPB’s and Aditya Birla Capital’s shared commitment to strengthening financial accessibility and fostering growth for individuals. IPPB will act as a lead referral partner to ABCL on non-risk participation basis, with credit sanction on sole discretion of ABCL.
About India Post Payments Bank:
India Post Payments Bank (IPPB) has been established under the Department of Posts, Ministry of Communication with 100% equity owned by Government of India. IPPB was launched on September 1, 2018. The bank has been set up with the vision to build the most accessible, affordable and trusted bank for the common man in India. The fundamental mandate of India Post Payments Bank is to remove barriers for the unbanked & underbanked and reach the last mile leveraging the Postal network comprising ~1,65,000 Post Offices (~140,000 in rural areas) and ~3,00,000 Postal employees.
IPPB’s reach and its operating model is built on the key pillars of India Stack – enabling Paperless, Cashless and Presence-less banking in a simple and secure manner at the customers’ doorstep, through a CBS-integrated smartphone and biometric device. Leveraging frugal innovation and with a high focus on ease of banking for the masses, IPPB delivers simple and affordable banking solutions through intuitive interfaces available in 13 languages to 11 Crore customers across 5.57 lakh villages & towns in India.
IPPB is committed to provide a fillip to a less cash economy and contribute to the vision of Digital India. India will prosper when every citizen has equal opportunity to become financially secure and empowered. Our motto stands true – Every customer is important; every transaction is significant, and every deposit is valuable. Reach us at: [email protected]