<h1>Mahan Industries Launches 'Credit Mines,' A Comprehensive Digital Lending Platform</h1>
Ahmedabad: Mahan Industries Limited (BSE: 531515) has announced the launch of 'Credit Mines', a new brand designed as a comprehensive digital lending platform, marking a strategic expansion into the digital financial services space. The launch allows customers to meet their financial requirements through a completely seamless, paperless, and cashless online experience.
'Credit Mines' is described as a fully digital, end-to-end lending solution capable of enabling personal loans and various other credit products in a digital manner. The platform leverages India's public digital infrastructure, utilizing technologies such as digital KYC, Video KYC, the account aggregator framework, and e-signing for loan documentation.
The lending process is underpinned by data analytics based credit assessment models, providing instant and seamless credit to both new and existing customers. The entire service allows users to obtain products in a paperless and presence-less manner from the convenience of their homes.
Customers accessing 'Credit Mines' can complete e-KYC and provide basic details to check eligibility. Following this initial step, clients can select the loan amount, accept the auto-populated interest rate, processing fee, and EMI amount. The process is completed through Video KYC, after which users digitally sign the loan agreement and authenticate the request for immediate credit disbursal into their bank account.
The launch positions Mahan Industries as a participant in India's growing digital lending ecosystem. While the platform is currently available via the company website, a dedicated mobile application facility will follow soon. All lending activities under 'Credit Mines' are managed in compliance with applicable laws, including the Reserve Bank of India's Guidelines on Digital Lending.
The core details of the new brand and its market focus are summarized below:
| Particulars | Details |
|---|---|
| Name of the New Brand / Product | 'Credit Mines' - a comprehensive digital lending platform. |
| Category of the Product / Brand | Digital financial services, offering personal loans and other retail credit products in a fully digital manner. |
| Market Focus | Domestic market (India). |
| Country of Launch | India. |
| Expected Impact on Company | The launch is expected to diversify revenue streams, expand the customer base, and strengthen long-term growth prospects for Mahan Industries Limited. |
Stock Price Movement
Mahan Industries Ltd shares settled on Monday at ₹11.63, showing a zero-point change in the close of trade. The stock was completely locked at this price throughout the trading session as its intraday high and low remained identical.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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