Mahindra Rural Housing Finance, India Post Payments Bank Partner for Cash Management solution.

Mahindra Rural Housing Finance Limited (MRHFL), a subsidiary of Mahindra

and Mahindra Financial Ltd, and India Post Payments Bank (IPPB) today announced a strategic partnership for cash

management solution. As part of the tie-up, IPPB will be offering cash management and collection services to

MRHFL through its access points and postal service providers. With the cash management service, MRHFL

customers will be able to repay their monthly or quarterly loan instalments at over 136,000 post offices.

The tie-up for cash management solution is a significant partnership in the financial services sector, and is aimed at

customer inclusivity by both the partners. IPPB’s large national network combined with its simple, scalable and

replicable technology framework has facilitated the deployment of cash management solution to meet the

requirements of MRHFL.

Speaking on the partnership, Mr. J Venkatramu, MD & CEO, India Post Payments Bank, “As technology continues

to evolve and creates new ways of doing business, it has been our constant endeavour to offer our customers and

partners accessible & affordable banking solutions. Cash management being the lifeline of business operations, IPPB

with its robust network and technology platform can help corporates to manage their receivables safely, securely

and seamlessly. We are committed to working with Mahindra Rural Housing Finance in its pursuit of transforming

lives in rural areas and remove barriers for the unbanked & underbanked by reaching the last mile leveraging the

vast reach of the postal network.”

Anuj Mehra, Managing Director, Mahindra Rural Housing Finance said, “At Mahindra, we keep on looking at

innovative solutions to enhance the customer support for our customers. The tie up with IPPB is a step in that

direction which we believe will provide our customers access to efficient banking services and enable them to

become financially secure and empowered. I am grateful to IPPB for agreeing to partner with us on this unique

solution which will enable our customers to Rise”.

Through a range of on ground activations, social media platforms and other channels, including SMS campaigns and

WhatsApp, MRHFL and IPPB will inform and sensitize customers of the unique partnership for cash management.