Bajaj Finance share price surged by 3.6%, hovering around its all-time high after Bharti Airtel, a leading telecom company, announced a strategic collaboration with the private-sector Non-Banking Financial Company (NBFC) Bajaj Finance on Monday. This partnership aims to develop a digital platform for financial services to improve the last mile delivery of financial services and promote digital inclusion. Bajaj Finance share price opened at an intraday low of ₹7,182.10 apiece on the BSE, the stock touched an intraday high of ₹7,442.60.
The firm mentioned in an exchange filing that this unique partnership combines Airtel’s extensive customer base of 370 million, a robust distribution network of over 1.2 million, and Bajaj Finance’s wide array of 27 product offerings alongside its substantial distribution strength of more than 5,000 branches and 70,000 field agents.
For a smooth and safe consumer experience, Airtel will first provide Bajaj Finance’s retail financial products via its Airtel Thanks App. Later, it would do so through its nationwide network of retail locations. Airtel and Bajaj Finance’s combined digital asset power will allow them to greatly increase the market share of financial services and products, the company said in an exchange filing.
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