Partnership24 Jul 2024, 11:14 pm
Emerald Finance Ltd Partners with Cadchem Laboratories to Offer Early-Wage-Access Program
AI Summary
Emerald Finance Ltd, in accordance with Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, has announced a partnership with Cadchem Laboratories Limited. The collaboration aims to provide an Early-Wage-Access program to the employees of Emerald Finance Ltd, allowing them to access part of their salaries seamlessly throughout the month. Cadchem Laboratories Limited is known for developing and manufacturing niche Active Pharmaceutical Ingredients (API) and its intermediates. This partnership supports Emerald Finance Ltd's vision to expand its product offerings and serve retail customers at large by offering short-term salary advance loans.
Key Highlights
- Emerald Finance Ltd partners with Cadchem Laboratories Limited to provide Early-Wage-Access program to employees.
- Cadchem Laboratories Limited specializes in developing and manufacturing niche Active Pharmaceutical Ingredients (API) and its intermediates.
- The partnership aims to offer instant financial relief to employees by allowing them to access part of their salaries throughout the month.
- Emerald Finance Ltd had been working on a salary advance solution as a part of its vision to expand product offerings.
- The salary advance product involves tying up with employers to offer short-term loans, which are then collected through salary deduction.