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Poonawalla Fincorp Unveils Shopkeeper Loan Scheme to Empower Small Retailers.

Economy Business | Dated: 11 Apr 2025

In April 2025, Pune (Maharashtra)-based Non-Banking Financial Company (NBFC), Poonawalla Fincorp Limited (PFL) (formerly known as Magma Fincorp), promoted by the Cyrus Poonawalla Group, announced the launch of its Shopkeeper Loan Business.

🎯 Key Highlights:

  • - The newly launched product is designed to offer tailored financial solutions to small retailers and kirana store owners across India, aiming to enhance their competitiveness and sustainability in the retail sector.
  • - The product is built on a risk-first and customer-first approach, aimed at empowering small businesses—especially kirana stores—to thrive in a fast-changing retail environment. In its initial rollout, PFL has activated 44 locations, with a strong focus on semi-urban and rural areas, where small retailers form a significant part of the market.
  • - This initiative aligns with PFL’s long-term vision of becoming the preferred financier for the self-employed segment. It also supports the Atmanirbhar Bharat mission by helping small retailers gain access to the formal credit ecosystem, promoting financial inclusion and business growth across underserved regions.

💡 Other Important Facts:

  • (i) PFL is registered with the Reserve Bank of India (RBI) as a 'non-deposit taking NBFC' and currently operates across 18 states and 2 Union Territories (UTs).
  • (ii) Earlier, in March 2025, PFL launched a new Commercial Vehicle (CV) Secured Loan Business to support India’s logistics and supply chain sectors.
  • (iii) As of March 31, 2025, PFL reported an Asset Under Management (AUM) of nearly Rs 35,550 crore.

📚 Test Your Knowledge:

Which financial institution recently launched the Shopkeeper Loan Scheme to support small retailers and kirana stores in India?

Correct Answer: Poonawalla Fincorp

🚀 Quick Recap: