Manba Finance Announces South India Expansion via Partnership with Sreesastha (Nammaloan)
On 16 June 2026, Manba Finance Limited, a vehicle‑financing NBFC headquartered in Mumbai, issued a press release stating that it will enter the South Indian market through a strategic partnership with Sreesastha (operating as Nammaloan). The partnership will initially launch operations in Karnataka, followed by Tamil Nadu within the current financial year, with a phased rollout to additional South Indian states thereafter.
The joint venture has identified more than 100 potential locations across these regions, which will be activated progressively based on market readiness and operational priorities. Leadership of the initiative comprises a core team of four senior executives who collectively possess over a century of experience in automobile lending, covering origination, credit underwriting, collections, and on‑ground distribution across the vehicle‑finance value chain. This expertise is intended to provide immediate market insight, established dealer relationships, and a disciplined credit culture.
Manba will initially offer its core vehicle‑finance products in the South: new two‑wheeler loans, used two‑wheeler loans, three‑wheeler loans, and used‑car loans. The rollout is sequenced, beginning with the products where the company has the strongest capabilities, and will broaden both geographically and product‑wise over time to ensure sound underwriting and operational readiness rather than rapid scale.
A key differentiator highlighted is Manba’s digital lending platform, which can deliver in‑principle approvals within as little as one minute and provides a fully digital, paperless journey from application through documentation to disbursement. This is positioned to give dealers and customers faster decisions, reduced friction, and a financing experience aligned with point‑of‑sale requirements.
Management Comments
Manish Shah, Managing Director of Manba Finance Limited, said that South India is one of the most dynamic vehicle markets in the country and that entering it “the right way matters more to us than entering it quickly.” He added that partnering with Sreesastha brings a team with decades of market experience, complementing Manba’s products, balance sheet, and technology.
Monil Shah, Chief Business Officer & Executive Director of Manba Finance, emphasized a disciplined approach, noting that the company will start in Karnataka with its best‑known products and expand state‑by‑state as it earns the right to do so, focusing on building a durable, well‑underwritten loan book.
V Gopalakrishnan, Director of Sreesastha Ins‑Corp Advisory Private Ltd (Nammaloan), expressed delight in associating with Manba, stating that the tie‑up aligns with Sreesastha’s vision of bridging quality financial products to underserved customers in South India and that their team’s experience in tech‑enabled retail finance distribution will accelerate high‑quality disbursements while maintaining service and compliance standards.
The release concludes with a disclaimer that the press release is provided under an arrangement with NRDPL and PTI assumes no editorial responsibility.