In its new avatar under Poonawalla brand, the group will be focusing on consumer and MSME segments. As a part of the new strategy, the company will expand its product range to include Personal Loans, Loans to Professionals, Merchant Cash Advances, Loan against Property, Consumer Finance and Machinery Loans along with existing products of Business Loan, Pre-Owned Car Loans and Home Loans. Earlier this month the board had approved a proposal to enter a co-branded credit card arrangement for issuance of co-branded credit cards, subject to obtaining necessary approvals from the regulatory authority(ies). The company offers complete transparency in its offerings with no hidden charges and a fully customer centric approach.
Mr. Adar Poonawalla, Chairman, Poonawalla Fincorp Limited said, “We are delighted to announce the rebranding of Magma Fincorp under the Poonawalla brand as "Poonawalla Fincorp". This marks the beginning of not only a change of brand but the fundamental way in which we will do business. From new products to new geographic locations across India; we hope to serve every citizen, helping them in fulfilling their personal and professional aspirations.”
