Mahindra Rural Housing Finance and India Post Payments Bank on Monday announced a strategic partnership for cash management solution.

“As part of the tie-up, IPPB will be offering cash management and collection services to MRHFL through its access points and postal service providers,” Mahindra Rural Housing Finance said in a statement, adding that with the cash management service, its customers will be able to repay their monthly or quarterly loan instalments at over 1.36 lakh post offices.

J Venkatramu, MD and CEO, India Post Payments Bank (IIPB), said: “Cash management being the lifeline of business operations, IPPB with its robust network and technology platform can help corporates to manage their receivables safely, securely and seamlessly.”

Anuj Mehra, Managing Director, Mahindra Rural Housing Finance said, “The tie up with IPPB is a step in that direction which we believe will provide our customers access to efficient banking services and enable them to become financially secure and empowered.”