CURRENT AFFAIRS

Detailed explanation-1: -CHENNAI: Northern Arc, a diversified financial services platform, has entered into a partnership with Indian Bank. The partnership enables . Indian Bank to access Northern Arc’s n-POS platform, which helps NBFCs, fintech, digital lenders and investors co-lend to retail borrowers.

Detailed explanation-2: -partners and investors, will be used by Indian Bank to offer retail loans. Chennai, May 26, 2022: Northern Arc, one of India’s diversified financial services platforms, announced that it has entered a strategic partnership with Indian Bank.

Detailed explanation-3: -In May 2022, we successfully entered a strategic partnership with Indian Bank to co-lend to retail borrowers using our ‘n-Pos platform’ – a critical infrastructure for the industry that will solve key integration issues and catalyse co-lending partnerships.

Detailed explanation-4: -Muthoot Finance Ltd is India’s first NBFC tracing its history back to 1888 when it began as a small lender from a village in Kerala. Muthoot Finance Ltd sanctions loans only against pledge of gold ornaments. It is a leader in India’s gold loan and finance market.

Detailed explanation-5: -Shriram Finance Limited has been established as the largest retail Non-Banking Financial Company (NBFC) in India, post the merger with Shriram Transport Finance Company (the largest financier of commercial vehicles), and Shriram City Union Finance (the largest financier of two-wheelers).