Mahindra Rural Housing Finance, India Post Payments Bank Partner for Cash Management solution.
Mahindra Rural customers can now repay loans at over 136,000 post offices.
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.