Pune: Poonawalla Fincorp Limited (Formerly Magma Fincorp Limited), has signed an MoU with Institute of Company Secretaries of India (ICSI) to provide collateral-free term loans to ICSI members as well as its employees. The scheme will benefit over 65,000 ICSI members across the country.

The Poonawalla Fincorp ICSI scheme offers an attractive interest rate, zero prepayment charges and host of other attractive benefits. This is a unique offering covering company secretaries professionals across the country powered by a completely digital and 100% paperless process along with E-Agreement and E-NACH for fully online offering.

In line with the company’s objective of providing hassle free loans to professionals to meet their financial needs, the company has planned for similar such tie-ups. It demonstrates its irrefutable support towards nation building while creating opportunities of growth and development of professionals and entrepreneurs.

“We believe that for entrepreneurial growth to thrive, professionals like company secretaries need to be supported in fulfilling their financial needs. This scheme is a step in this direction.”

CA Abhay Bhutada
Managing Director
Poonawalla Fincorp Limited

Poonawalla Fincorp Limited (Formerly known as Magma Fincorp Limited) is a non-deposit taking systemically important non-banking finance Company (ND-SI-NBFC), registered with the Reserve Bank of India (RBI).

The Company started operations nearly three decades back and is listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange in India (NSE).

Consequent to the capital raise of Rs 3,456 Crore in May’21, the Company is now part of Poonawalla Group with majority stake owned by Rising Sun Holdings Private Limited, a company owned and controlled by Mr. Adar Poonawalla.

The Company’s new identity “P” stands for Passion, Principles, Purpose, People and Possibilities. Poonawalla Fincorp Limited (“PFL”) has a widespread coverage with 296 branches across 21 States and a loan book of more than Rs. 14,000 crores.

The Company offers a bouquet of financial products including Loans to Professionals, Business Loans, Personal Loans, Pre-Owned car loans, Mortgage finance and general insurance.

Suggested Read: Vijay Deshwal joins Poonawalla acquired Magma Fincorp as Group CEO (indiaunicorn.com)

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