Yesterday the Young generation bank of the country – Yes bank has announced that leading gold lender Muthoot Finance will be working as the business correspondent for the bank. The agreement between the Muthoot Fianace and yes bank was signed was signed 2 months back, but only after the RBI has approved the partnership the ban k declared it yesterday.
Muthoot Fincorp rolled out its disbursement of funds for two of Yes Bank’s products -Yes Leap (Yes Livelihood Enhancement Action Programme) is the flagship product of the inclusive and Social Banking (ISB) division of Yes Bank. Through this partnership Muthoot finance will be offering services like credit, savings and insurance to the self-help groups through its outlets. A new service the ’Yes Money’ would help to provide seamless domestic remittance service to customers at reasonable fee.