Poonawalla Fincorp partners with IndusInd Bank for co-branded credit card, gets RBI permission

• Unique best-in-class customer centric product offerings
• Aimed at targeting customers with good credit score & history
• 100% digital process

PUNE, India, Sept. 27, 2023 /PRNewswire/ -- Poonawalla Fincorp Limited, a Cyrus Poonawalla group promoted non-banking finance company, has received permission from the Reserve Bank of India (RBI) to issue co-branded credit card with IndusInd Bank. The company envisages to launch this credit card within three months. This partnership will enable Poonawalla Fincorp to usher in a new age of flexible and versatile retail credit.

Expressing happiness at the development, Mr. Abhay Bhutada, Managing Director, Poonawalla Fincorp, said, "We are confident that this partnership with IndusInd Bank will be a game-changer adding a new vista to our bouquet of new-age financial products for India's tech-savvy and financially astute customers. We at Poonawalla Fincorp believe in ethical lending with complete transparency and no hidden charges while engaging with our customers. With its fully digital process and unique best-in-class product offerings, we expect to provide an exceptional & seamless customer experience to our existing and potential customers."

About Poonawalla Fincorp Limited

Poonawalla Fincorp Limited ("the Company") is a Cyrus Poonawalla group promoted non-deposit taking systemically important non-banking finance company (ND-SI-NBFC), registered with the Reserve Bank of India (RBI). The Company started operations nearly three decades back and is listed on the BSE Limited (BSE) and the National Stock Exchange of India Limited (NSE).

The Company's identity "P" stands for Passion, Principles, Purpose, People and Possibilities. The Company has widespread coverage across 19 states. The Company has standalone AUM of ₹ 17,776 crore as on June 30, 2023, and employs around 2300 people. The Company's financial services offerings include pre-owned car finance, personal loans, loan to professionals, business loans, loan against property, supply chain finance, machinery loans, medical equipment loans and consumer loans.

For more information, please log on to: www.poonawallafincorp.com