Manappuram Finance has entered into a partnership with Ria Money Transfer (Ria) to provide inbound remittance payout services throughout India. This tie-up allows more Ria customers to send money to their families and friends in India and provides better convenience for beneficiaries, enabling quick cash payout on inbound money transfers up to Rs 50,000. Remittances of higher amounts are also permitted, subject to fulfilling additional requirements.
Manappuram Finance is a non-deposit taking NBFC and having a strong presence in South India in states of Kerala, Tamil Nadu, Karnataka and Andhra Pradesh. During FY15 (refers to the period from April 01 to March 31), the company’s total income was Rs 1981 crore as against the total income of Rs 2112 crore in FY14.
