Bharti Airtel, one in every of India’s largest telecom service suppliers, and Bajaj Finance, India’s largest private-sector Non-Banking Monetary Firm (NBFC), have introduced a strategic partnership to create one in every of India’s largest digital platforms for monetary providers. This collaboration combines Airtel’s 370 million clients and intensive distribution community with Bajaj Finance’s numerous suite of economic merchandise and over 5,000 branches.
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Airtel to Supply Bajaj Finance Merchandise
“The one-of-a-kind partnership brings collectively Airtel’s extremely engaged buyer base of 370 million, 12 lakh+ sturdy distribution community, and Bajaj Finance’s diversified suite of 27 product strains, and distribution heft of 5,000+ branches and 70,000 area brokers,” the businesses mentioned in an announcement on Monday, January 20, 2025.
Plans to Broaden Product Portfolio
Airtel will initially provide Bajaj Finance’s retail monetary merchandise, corresponding to Gold Loans, Enterprise Loans, and a co-branded Insta EMI Card, by means of its Airtel Thanks App. By March 2025, 4 merchandise might be out there on the app, with plans to develop to 10 by year-end. The co-branded EMI card presents versatile fee choices at over 1.5 lakh associate shops and e-commerce platforms, in line with the official launch.
Boosting Monetary Inclusion
Each corporations purpose to drive monetary inclusion, with Airtel’s platform enabling clients, particularly these new to credit score, to entry loans and different providers. The partnership additionally emphasises regulatory compliance, information safety, and customer support.
Gopal Vittal, Vice Chairman and MD of Bharti Airtel, mentioned, “The mixed attain, scale and distribution power of the 2 corporations will function the cornerstone of this partnership and assist us succeed within the market. We’re constructing Airtel Finance as a strategic asset for the group and can proceed to spend money on and develop the enterprise. As we speak. we’re trusted by over 1 million clients and our imaginative and prescient is to make Airtel Finance a one-stop store for all of the monetary wants of our clients.”
Rajeev Jain, Managing Director of Bajaj Finance, mentioned, “Along with Airtel, we search to be the financier of option to India and allow hundreds of thousands to entry monetary providers, even in distant areas. We’re excited to hitch arms with Airtel at a time when Bajaj Finance is harnessing the facility of AI to boost efficiencies and elevate buyer experiences.”
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Providers Piloted
“To date, two merchandise of Bajaj Finance have been piloted on the Airtel Thanks App,” Airtel mentioned, including, “Airtel clients have the chance to use for the Airtel-Bajaj Finserv Insta EMI card by way of the Airtel Thanks App and later by means of its nation-wide community of shops.”
Partnership for Digital Monetary Providers
“Airtel-Bajaj Finserv EMI card supplies entry to a variety of presents out there to Bajaj Finance clients. Customers will profit from versatile EMI choices and fee plans for buying numerous items, together with electronics, furnishings and groceries at over 1.5 lakh associate shops throughout greater than 4,000 cities. Moreover, the co-branded card is relevant for e-commerce transactions on a number of platforms,” the official launch mentioned.
In response to Airtel, the Airtel Thanks App now additionally permits clients to safe a gold mortgage, enabling new-to-credit clients to entry finance and combine with the formal monetary system.
