Mahan Industries Ltd launches 'Credit Mines', a comprehensive digital lending platform

Mahan Industries Limited (BSE: 531515) today announced the launch of 'Credit Mines', a comprehensive digital lending platform that enables customers to meet their financial requirements from the comfort of their homes. With this, customers can instantly avail personal loans and other credit products on a single platform in a completely paperless and digital manner.

'Credit Mines' offers a fully digital, end-to-end process that leverages the power of India's public digital infrastructure to offer credit products in a paperless, presence-less and cashless manner. The platform digitally verifies KYC and employment information, analyses bank statements through the account aggregator framework, and leverages advanced analytics and data-driven models to assess eligibility in real time. Post this, the customer can complete Video KYC and receive disbursal directly into his or her bank account after executing the loan agreement digitally - without visiting any branch or undertaking any lengthy documentation.

Speaking about the launch, Mr. Shah Nishil Sanjaykumar, Executive Director, Mahan Industries Limited, said: "The launch of 'Credit Mines' is a significant milestone in our journey of building a technology-first financial services business. Over the past few months, we have been working towards creating a comprehensive solution that gives customers easy access to credit from the comfort and safety of their homes. 'Credit Mines' provides customers a completely seamless, paperless and digital borrowing experience on a single platform, and we believe it will meaningfully contribute to the Company's next phase of growth."

Customers can avail an instant personal loan through 'Credit Mines' by following the belowmentioned steps:

- Complete e-KYC and provide basic details to check eligibility

- Select the amount from the loan offer as required and accept the auto-populated interest rate, processing fee and EMI amount

- Complete Video KYC

- Digitally sign the loan agreement and authenticate the request for enabling instant credit of money into the account

- The money gets transferred to the customer's account on completion of this procedure

All lending under the 'Credit Mines' platform shall be undertaken in compliance with applicable laws and regulations, including the Reserve Bank of India's Guidelines on Digital Lending. Currently, customers can apply through the platform's website, and the facility will shortly be made available through a dedicated mobile application.

Source : Equity Bulls

Keywords

MahanIndustries CreditMines DigitalLendingPlatform