Muthoot FinCorp ONE has introduced a digital footprint-based lending program tailored for small business owners. Targeting enterprises that rely on QR-code-based apps for daily collections, the program offers loans of up to Rs 5,00,000 with a convenient daily repayment option. By utilising QR-code transaction histories, this initiative provides credit to small business owners who may lack access to formal financing but demonstrate robust cash flows.
Muthoot FinCorp ONE simplifies loan repayment through automated daily deductions, empowering businesses with enhanced financial flexibility and supporting their growth. Thanks to strategic partnerships with India’s top digital payment platforms, this lending program represents a breakthrough in India’s digital lending landscape, combining the benefits of data-driven credit assessment, end-to-end digital journey and automated repayment options to medium and small enterprises (MSMEs) nationwide.
Chandan Khaitan, CEO, Muthoot FinCorp ONE said, “India has roughly 60 million Informal Micro Enterprises (IMEs). It is one of the largest employment creators in the country and contributes significantly to the country’s GDP. The aim of QR-code-based lending program is to make credit accessible to such IMEs who traditionally face barriers in accessing formal finance. This product is designed around their daily business needs, enabling sustainable growth. By aligning credit access with digital cash flow data, we offer MSMEs a new path to financial strength.”
Muthoot FinCorp ONE’s QR-code-based lending program marks a key step towards adopting the Government of India’s upcoming initiative ––Unified Lending Interface (ULI).
