Shriram Finance Ltd. on Friday said that the board has approved the plan to enter the payments business by offering mobile wallets and prepaid cards as the shadow lender seeks to diversify its offerings and boost earnings.
"Approved the proposal to offer payment services through Mobile Wallets, Prepaid Cards (Food Card, Gift Card), FASTag, etc. providing a secure, convenient and efficient alternative to cash transactions for our customers, subject to receipt of necessary approval from Reserve Bank of India in accordance with RBI’s Master Directions on PPI, receipt of authorization as a Payment System Operator in accordance with the Payments and Settlement Systems Act, 2007 (“PSSA”) and receipt of approvals from other statutory authorities, as may be required," said the shadow lender.
Shriram Finance on Friday reported a 10% year-on-year (YoY) growth in standalone net profit to Rs 2,139 crore for the fourth quarter ended March 2025, aided by strong disbursements and healthy net interest income.
The net interest income for the fourth quarter increased 13% to Rs 6,051 crore as against Rs 5,336 crore in the same period of the previous year.
Total income in Q4 stood at Rs 11,460 crore, up from Rs 9,498 crore a year earlier. Revenue from operations rose 21% YoY to Rs 11,454 crore. Fee and commission income of Rs 331 crore more than doubled from the year-ago period.
"Approved the proposal to offer payment services through Mobile Wallets, Prepaid Cards (Food Card, Gift Card), FASTag, etc. providing a secure, convenient and efficient alternative to cash transactions for our customers, subject to receipt of necessary approval from Reserve Bank of India in accordance with RBI’s Master Directions on PPI, receipt of authorization as a Payment System Operator in accordance with the Payments and Settlement Systems Act, 2007 (“PSSA”) and receipt of approvals from other statutory authorities, as may be required," said the shadow lender.
Shriram Finance on Friday reported a 10% year-on-year (YoY) growth in standalone net profit to Rs 2,139 crore for the fourth quarter ended March 2025, aided by strong disbursements and healthy net interest income.
The net interest income for the fourth quarter increased 13% to Rs 6,051 crore as against Rs 5,336 crore in the same period of the previous year.
Total income in Q4 stood at Rs 11,460 crore, up from Rs 9,498 crore a year earlier. Revenue from operations rose 21% YoY to Rs 11,454 crore. Fee and commission income of Rs 331 crore more than doubled from the year-ago period.
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