Airtel and Bajaj Finance Partner to Empower Millions with Digital Financial Services

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Airtel and Bajaj Finance Partner to Empower Millions with Digital Financial Services

Bharti Airtel, a leading telecom service provider in India, and Bajaj Finance, the country's largest private-sector NBFC, have joined forces to create a comprehensive digital platform for financial services. This strategic partnership aims to transform last-mile delivery and empower millions of Indians with a diverse range of financial products and services.

The partnership leverages the strengths of both companies. Airtel boasts a vast customer base of 370 million and a robust distribution network of over 12 lakh touchpoints. Bajaj Finance, on the other hand, offers a diversified suite of 27 financial products and a wide distribution network of over 5,000 branches and 70,000 field agents.

Through this collaboration, Airtel will initially offer Bajaj Finance's retail financial products on its Airtel Thanks App, providing a seamless and secure customer experience. These products will later be made available through Airtel's extensive network of stores across the country.

The combined strength of the companies' digital assets will enable them to significantly increase the penetration of financial products and services, particularly in remote areas. This will empower millions of Indians with access to essential financial services, promoting financial inclusion and economic growth.

Gopal Vittal, Vice Chairman and MD of Bharti Airtel, expressed his enthusiasm for the partnership, stating that it aligns with the shared vision of both companies to empower millions of Indians with a diverse portfolio of financial needs. He emphasized the combined reach, scale, and distribution strength of the two companies as the cornerstone of this partnership.

Rajeev Jain, MD of Bajaj Finance, highlighted the importance of India's digital ecosystem in driving data-driven credit underwriting and financial inclusion. He expressed his excitement about the partnership, stating that it brings together the expertise and reach of two of India's leading and most-trusted brands.

The partnership will initially focus on offering four products of Bajaj Finance on the Airtel Thanks App, including Gold Loan, Business Loan, a co-branded Insta EMI Card, and Personal Loan. Airtel plans to progressively offer close to 10 financial products of Bajaj Finance within the calendar year.

The Airtel Thanks App now also enables customers to secure a gold loan, empowering new-to-credit customers to access finance and integrate with the formal financial system.

Both companies are committed to strong regulatory compliance, data privacy and security, and seamless customer service. They believe that this partnership will play a significant role in transforming the financial landscape of India and empowering millions of Indians with access to essential financial services.