In a bid to tap into the growing digital lending sector, Manappuram Finance Limited has launched Ma-Money, a new digital lending platform. The app is aimed at providing customers with all the financial products offered by Manappuram Finance under one umbrella. The company, which is already a pioneer in digital gold loans, hopes that the new app will help it to scale up its digital business and reach a wider audience. The app is primarily targeted at customers in tier 2 and tier 3 cities.
Ma-Money offers a wide range of loans, including personal loans, business loans, consumer durables loans, loans for the healthcare industry, food industry, small-scale industries, school finance to improve infrastructure, car loans, home repair loans, and farm equipment loans, among others.
Commenting on the launch, V P Nandakumar, Managing Director and CEO of Manappuram Finance said: "We understand that our customers lead busy lives and want a quick and easy way to access the financial products they need. With Ma-Money, they can do just that, no matter where they are or what time it is. We are always at the forefront in embracing technology to make life easier for our customers."
The launch of Ma-Money is part of Manappuram Finance's broader strategy to expand its digital footprint and provide customers with innovative and convenient financial products. With the new app, customers can apply for loans, track their applications, and manage their accounts, all from their mobile devices. For customers in smaller cities and towns, Ma-Money represents a significant step forward in terms of financial inclusion, providing access to a wide range of loans and financial products that were previously unavailable to them.
Shares of Manappuram Finance Limited was last trading in BSE at Rs. 111.10 as compared to the previous close of Rs. 112.05. The total number of shares traded during the day was 369661 in over 3429 trades.
The stock hit an intraday high of Rs. 112.45 and intraday low of 110.90. The net turnover during the day was Rs. 41240504.00.