Muthoot Finance Limited has announced its collaboration with fintech start-up NIRA as part of its aim to strengthen its digital footprint. Through this partnership, salaried clients can avail personal loan of a maximum of INR1 lakh from Muthoot by downloading the NIRA app available at the Google play store.
NIRA is a Bengaluru-based fintech offering personal loans to salaried workers across India's middle class. They offer loans to customers starting with INR 12,000 per month. This partnership will help NIRA expand its objective of expanding access to formal credit across India, while Muthoot Finance will build on its aim to expand digitally.
Incorporated as a private limited company in 1997, Muthoot Finance is the largest gold loan NBFC in the country, in addition to being a pan India financial corporation. In addition to financing gold transactions, the company offers money transfers, foreign exchange services, travel and tourism services, and wealth management services. The company has 4,400 branches in India, with its headquarters in Kerala. Outside India, Muthoot Finance is established in the US, UK, and UAE.