Emerald Finance Limited submitted a regulatory disclosure to BSE Limited pursuant to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, specifically Regulation 30.
The company announced it has entered into a partnership with Ebix Cash World Money Private Limited, Delhi, to offer an Early-Wage-Access program to its employees. This program provides instant financial relief to employees by allowing them to access part of their salaries seamlessly throughout the month.
The partnership is part of the company's vision to expand its offerings and serve retail customers at large. The company had been working on developing a salary advance solution, which involves tying up with employers to offer short-term loans as salary advances. The amount lent to employees under this program will be collected through salary deduction.
Financial Impact
Financial impact not quantified in the disclosure.