Cholamandalam Investment and Finance Company Limited (Chola), the financial services arm of Murugappa Group, today announced a strategic partnership with Rupyy, a new-age fintech, a CarDekho Group Company, to avail easy and quick access to loans and allied services.
Under this partnership, Chola in partnership with Rupyy will bring for customers a specialized end-to-end digital and paperless platform that has been designed to make the entire loan journey more convenient for automobile customers and retailers.
Commenting on the partnership, Mr. Ravindra Kumar Kundu, Executive Director, Cholamandalam Investment and Finance Company Limited, said, "With Rupyy's vision to provide a holistic solution to their customers & to construct a complete ecosystem, we felt Rupyy's platform would be a good fit for Chola to expand and offer our services to more than 4000 car dealers. Together, we aim to offer new and used buyers a customer-centric service for availing loans & allied services. We aim to grow our presence by providing the new age fin-tech services with swift, convenient, and, transparent processes."
"We are delighted to partner with Cholamandalam, a reputed financial institution. With this partnership, we aim to offer our customers with loans and allied services much more quickly and in a phased manner. With the help of Chola's deep market reach and penetration in tier 2-3 cities, Rupyy would add value in providing a brand-new experience to the customers availing car loans and services through a digital sourcing platform and QR code-based self-help journey's," adds Mr. Namit Jain, Co-Founder & CEO, Rupyy.
Shares of Cholamandalam Investment and Finance Company Limited was last trading in BSE at Rs. 718.30 as compared to the previous close of Rs. 728.40. The total number of shares traded during the day was 20468 in over 1327 trades.
The stock hit an intraday high of Rs. 738.05 and intraday low of 716.00. The net turnover during the day was Rs. 14865785.00.