Finkurve Financial Services Ltd enters into collaboration agreement with Indian Bank

Finkurve Financial Services Limited (herein after referred to as 'Arvog') has entered into a collaboration agreement with Indian Bank, under normal course of business. This collaboration establishes a significant strategic partnership aimed for offering Gold Loan for a superior customer experience using its digital lending platform.

This partnership shall bring in several advantages to the Company, such as accessing the bank's lower cost of funds, leveraging their established customer base, benefiting from their regulatory framework and many more which shall boost the growth of the Company's gold loan portfolio. Collaborating with Indian bank shall enhance the credibility of the Company and shall also bring in brand value. Co-lending arrangements allows the NBFC's to share their lending risks with the banks due to which the NBFC's can mitigate the impact of loan defaults on its balance sheet and enhance its ability to manage credit risks and liquidity requirements effectively.

Shares of Finkurve Financial Services Ltd was last trading in BSE at Rs. 82.50 as compared to the previous close of Rs. 82.77. The total number of shares traded during the day was 1639 in over 37 trades.

The stock hit an intraday high of Rs. 86.49 and intraday low of 77.15. The net turnover during the day was Rs. 136694.00.

Shares of Indian Bank was last trading in BSE at Rs. 391.60 as compared to the previous close of Rs. 398.65. The total number of shares traded during the day was 76469 in over 2256 trades.

The stock hit an intraday high of Rs. 403.35 and intraday low of 388.25. The net turnover during the day was Rs. 30056482.00.

Source : Equity Bulls

Keywords

FinkurveFinancialServices INE734I01027 Arvog IndianBank INE562A01011 Collaboration