RUPEEK JOINS HANDS WITH INDIAN BANK; BECOMES FIRST EVER GOLD LOAN FINTECH TO PARTNER WITH PUBLIC SECTOR BANK

Editor's Synopsis:
● Chennai-headquartered Indian Bank, becomes first public sector bank to enter into a co-lending arrangement with Rupeek, India's leading asset-backed digital lending platform.
● Through this partnership, Rupeek aims to leverage and offer Indian Bank's wide and diverse customer base with its flagship doorstep gold loan offering.
● This strategic partnership will work towards enabling access to secured credit on the back of gold-backed loans for customers across Bangalore, Delhi, Mumbai, Pune, Hyderabad, Kota, Kolhapur, Lucknow, and Kakinada with many more in the pipeline.

This alliance aims to make gold loans mainstream on the back of Rupeek's PSU-grade compliant technology, access to low-cost capital, and the bank's extensive branch network of 5,700 branches. Indian Bank's value offerings, combined with Rupeek's expertise in safe, transparent, hassle-free doorstep lending service and robust technology, will help meet the expanding credit needs of customers at affordable prices.

According to RBI's circular, the "Co-Lending Model" (CLM) is aimed at improving the flow of credit to the unserved and underserved sector, making available funds to the ultimate beneficiary at an affordable cost, considering the lower cost of funds from banks and the greater reach of the NBFCs.

"We are thrilled to enter into a co-lending agreement with Indian Bank, a large public sector institution having a strong pedigree in understanding and serving the credit needs of the masses. This partnership marks yet another strategic step towards unlocking access to secured credit via disruptive technology for consumers who are currently underserved. With Rupeek's state-of-the-art technology solutions and Indian Bank's strong presence in the market, we aim to introduce millions of customers to the formal credit market.", said Ashish Bansal, SVP - Lender Partnerships, Rupeek.

With a sharp focus on adapting to digital lending and co-lending models with NBFCs under the EASE 4.0 reforms, Indian Bank emerged as the 'Top Improver' across all PSBs on PSB Reforms EASE Agenda 4.0.

"We are delighted to partner with Rupeek to provide a best-in-class, digitally-enabled gold loan journey to our customers.", said Mr. Vikas Kumar, General Manager, Indian Bank.

As India's fastest-growing fintech company, Rupeek has revolutionized asset-backed lending in India through its unique technology-driven products and offerings. As a nation-builder brand, Rupeek's mission is to democratize credit for all by harnessing the power of technology in designing products that monetizes India's idle $2tn household gold.

Rupeek
Address: Divya Sree Towers, 2nd floor, Bannerghatta Main Rd, KEB Colony, New Gurappana Palya, 1st Stage, BTM 1st Stage, Bengaluru, Karnataka 560029

Princel Rosario
PR Manager
Rupeek
Ph: 99168 13338
princel.rosario@rupeek.com

About Rupeek:
Founded in 2015, Rupeek is India's leading asset-backed digital lending fintech platform. Built on 'Technology, Integrity & Fair value' first ethos, its vision is to be a new age, innovative brand solving the credit pain points of Indians. Rupeek aims to create equal access to credit for every Indian by enabling hassle-free doorstep gold loans at the lowest interest rates, its first flagship product with many more to follow. Rupeek is currently present in 60+ cities and it is the first-ever fintech in the asset-backed lending category to record a $1bn annual run rate (ARR). Headquartered in Bangalore, Rupeek's investors include Sequoia Capital, Accel Partners, Bertelsmann, GGV Capital, VEF, and Lightbox.

For more details on Rupeek, visit www.rupeek.com

This release was published on openPR.