Revolutionizing MSME Lending: Muthoot FinCorp ONE's QR-Code Breakthrough

Muthoot FinCorp ONE introduces a new QR-code-based lending program allowing small businesses to obtain loans up to Rs 5 lakh based on daily transactions. This initiative offers simplified daily repayments, leveraging digital footprints for credit assessment, fostering financial inclusion and growth for MSMEs in India.

In an innovative stride towards financial inclusion, Muthoot FinCorp ONE has launched a QR-code-based lending program aimed at empowering India's MSMEs. This scheme offers loans up to Rs 5 lakh for businesses, using their digital transaction history as a credit assessment tool to ease access to funds.

Supported by India's Finance Ministry's initiative for a 'New Credit Assessment Model,' this program aligns with the national vision of utilizing digital footprints over traditional balance sheet assessments. Muthoot FinCorp ONE promises automated daily repayments for small businesses, heralding a new era in digital lending.

With over 60 million Informal Micro Enterprises in India, this scheme addresses the credit gap for MSMEs by transforming how loans are underwritten. The program has already benefitted over 75,000 enterprises, marking significant progress in India's digital fiscal landscape.

(With inputs from agencies.)