By Dominick Rodrigues

Mumbai:  Mahindra Rural Housing Finance Limited (MRHFL), a subsidiary of Mahindra and Mahindra Financial Ltd, and India Post Payments Bank (IPPB), have announced a strategic partnership for cash management solution in which IPPB will be offering cash management and collection services to MRHFL through its access points and postal service providers.

Through this 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 deployment of cash management solution to meet requirements of MRHFL.

Noting that evolving technology created new ways of doing business which MRHFL sought to offer its customers and partners as accessible & affordable banking solutions, J Venkatramu, MD & CEO, India Post Payments Bank, said that with 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.

Anuj Mehra, Managing Director, Mahindra Rural Housing Finance said that Mahindra viewed innovative solutions to enhance customer support and the tie up with IPPB is a step in that direction to provide customers access to efficient banking services, while also enabling them to become financially secure and empowered.”

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.