MobiKwik-Poonawalla Fincorp Instant Loan Tie-up
Why in the news
Fintech platform MobiKwik tied up with the non-bank lender Poonawalla Fincorp to give users across India quick personal loans, with the aim of broader financial inclusion, particularly outside big cities.
Key facts
| Feature | Detail |
|---|---|
| Loan size | ₹50,000 to ₹15,00,000 |
| Product name | ZIP EMI |
| Availability | Nationwide, via the MobiKwik mobile app |
| Target users | Varied income groups in semi-urban and rural markets, Tier II and III towns |
About MobiKwik
- Founded in 2009 by Bipin Preet Singh and Upasana Taku.
- Offers a digital wallet, UPI, pocket UPI and the Zaakpay payment gateway.
- Over 172 million registered users and 4.5 million+ merchants.
- Described as India’s largest digital wallet provider.
Exam angle
- Loan product: ZIP EMI by MobiKwik.
- Lending partner: Poonawalla Fincorp.
- Maximum amount: ₹15 lakh.