Submission of disclosure under Regulation 30 of LODR Regulations, 2015
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Emerald Finance Ltd has announced a partnership with Agro Foods, Mohali, Punjab to offer its Early-Wage-Access program to the firm's employees. This program allows employees to access part of their salaries instantly throughout the month as a short-term loan facility. The company will collect repayments through salary deductions. This aligns with Emerald Finance's strategy to expand its offerings and serve retail customers by providing salary advance solutions tied up with employers.
This partnership represents a new distribution channel for Emerald Finance's salary advance product. While the financial impact is not quantified, expanding into employer-based salary advance solutions could contribute to the company's loan portfolio growth over time.