(MENAFN- KNN India)
New Delhi, Jan 20 (KNN) In a landmark move set to boost India's digital finance landscape, Bharti Airtel and Bajaj Finance, India's largest private-sector Non-Banking financial Company (NBFC), have announced a strategic partnership aimed at creating one of the country's largest digital platforms for financial services.
This collaboration, revealed through separate filings on January 20, combines the strengths of two giants in their respective fields.
The partnership kicks off with Airtel offering Bajaj Finance's range of financial products via its popular Airtel Thanks App, with plans to extend this service through Airtel's vast network of stores across India.
This initiative aims to significantly deepen the penetration of financial products and services, particularly in remote and underserved regions.
With Airtel's 370 million customer base and Bajaj Finance's extensive suite of products, the combined effort will offer customers a more accessible and comprehensive set of financial solutions.
Airtel's Vice Chairman and MD, Gopal Vittal, expressed confidence in the partnership's success, emphasising the combined reach and scale.
"The strength of both companies' distribution networks will be the cornerstone of this partnership," he said. The venture seeks to establish Airtel Finance as a strategic asset, with a vision to make it a one-stop shop for all customer financial needs.
Bajaj Finance's Managing Director, Rajeev Jain, highlighted the importance of India's digital infrastructure in driving financial inclusion.
“Our partnership leverages this infrastructure to provide access to credit and financial services for millions, even in the remotest corners of the country,” he noted.
Currently, two of Bajaj Finance's products are available on the Airtel Thanks App, with plans to expand to four by March. These include loans for gold, business, personal needs, and a co-branded Insta EMI card.
By the end of the year, Airtel aims to offer nearly 10 financial products fr0m Bajaj Finance on the platform.
This partnership promises flexible EMI options, access to credit, and a seamless digital experience, providing customers with easier access to financial products ranging fr0m personal loans to e-commerce purchase.
(KNN Bureau)
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