Poonawalla Fincorp Signs MoU With Institute of Company Secretaries of India for Special Term Loans to Its Members

August 26, 2021

Poonawalla Fincorp Limited (Formerly Magma Fincorp Limited), has signed an MoU with Institute of Company Secretaries of India (ICSI) to provide collateral-free term loans to ICSI members as well as its employees. The scheme will benefit over 65,000 ICSI members across the country.

The scheme offers an attractive interest rate, zero prepayment charges and host of other attractive benefits. This is a unique offering covering company secretaries professionals across the country powered by a completely digital and 100% paperless process along with E-Agreement and E-NACH for fully online offering.

In line with the company’s objective of providing hassle-free loans to professionals to meet their financial needs, the company has planned for similar such tie-ups. It demonstrates its irrefutable support towards nation-building while creating opportunities of growth and development of professionals and entrepreneurs.

Commenting on the MoU CA Abhay Bhutada, Managing Director, Poonawalla Fincorp Limited said, “We believe that for entrepreneurial growth to thrive, professionals like company secretaries need to be supported in fulfilling their financial needs. This scheme is a step in this direction.”

About Poonawalla Fincorp Limited

Poonawalla Fincorp Limited (Formerly known as Magma Fincorp Limited) is a non-deposit taking systemically important non-banking finance Company (ND-SI-NBFC), registered with the Reserve Bank of India (RBI). The Company started operations nearly three decades back and is listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange in India (NSE). Consequent to the capital raise of Rs 3,456 Crore in May’21, the Company is now part of Poonawalla Group with majority stake owned by Rising Sun Holdings Private Limited, a company owned and controlled by Mr. Adar Poonawalla.

The Company’s new identity “P” stands for Passion, Principles, Purpose, People and Possibilities. Poonawalla Fincorp Limited (“PFL”) has a widespread coverage with 296 branches across 21 States and a loan book of more than Rs. 14,000 crores. The Company offers a bouquet of financial products including Loans to Professionals, Business Loans, Personal Loans, Pre-Owned car loans, Mortgage finance and general insurance.

For more information, please log on to: www.poonawallafincorp.com

Poonawalla Finance Private Limited 

Aug 26, 2021

Need good help?

Check out our Services

Press Release Distribution & Writing Services

Submit Your Brand Story

More News From Poonawalla Finance Private Limited

Mar 28, 2023

  •  Link: https://youtu.be/YIeJ83bVzfU •  The two-day thought-leadership conclave commemorates and promotes India's ascent to global prominence •  The event will honour ...

May 13, 2022

  The Board of Directors (Board) of Poonawalla Fincorp Limited (PFL), a non-deposit taking systemically important NBFC focusing on consumer and small business finance, today announced its audited results for the ...

Aug 14, 2020

•  Sanctioned loan to more than 1,500 CAs within the first month of the launch of the scheme •  Scheme to offer Personal Loan and Professional Loan at an attractive interest rate and zero prepayment ...

Similar News

Sep 22, 2023

Chennai, India - September 22, 2023 - Indian Overseas Bank's Chennai-1 Region organized a loan distribution event for Street Vendors on September 20, 2023. The event was graced by the presence of the Honourable ...

Sep 22, 2023

 Mumbai, September 22, 2023: Federal Bank, a pioneer in banking and a name synonymous with excellence was thrilled to announce the momentous arrival of the ICC Men's Cricket World Cup Trophy Tour at its Mumbai ...