InvestorQ : Can you tell me about the collaboration agreement signed between Muthoot Finance and NIRA?
Debbie Mascarenhas made post

Can you tell me about the collaboration agreement signed between Muthoot Finance and NIRA?

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Arti Chavan answered.
1 month ago
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Muthoot Finance has announced a tie-up with NIRA, a Fintech firm, with a view to expand its digital footprint. Through this partnership between NIRA and Muthoot Finance, salaried persons can get personal loans to the tune of Rs.1 lakh from Muthoot Finance purely by downloading the NIRA app from the Google Play store for Android customers.

NIRA offers personal loans of very small ticket sizes even for persons earning around Rs.12,000 per month. It thus manages to cater to a vast middle class market. This deal will enable Muthoot to build its unsecured lending book and help NIRA to get the product support of a well-capitalized entity. Currently, the lending portfolio of Muthoot predominantly consists of gold loans. Muthoot will do the fulfilment for the customer.

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