Chandigarh : Emerald Finance Limited, an RBI registered NBFC, has partnered with Genetix Biotech Asia Private Limited, a cutting-edge consultant firm in the life-science industry, to offer its Early-Wage-Access program to the employees of Genetix.
Genetix is one of the leading firms in the life-science spectrum in India for the last 30 years.
It was at the forefront in the fight against Covid19, and had developed their own RT-PCR Kits and Extraction kit.
“This partnership aims to provide an instant financial relief to the employees by allowing them to access part of their salaries seamlessly throughout the month,” says Sandeep Aggarwal, Finance Controller, Genetix Biotech.
Whether it is to cover unexpected expenses, address urgent financial obligations, or simply bridge the gap between paychecks, the facility is available at their fingertips.Emerald, in line with its vision to expand its offerings and to serve retail customers at large has been working on a salary advance solution.
This product entails tying up with employers to offer short term loans as salary advance. The amount lent is then collected through salary deduction. “This is a niche product in India. This product is in vogue in developed countries like the US and Europe,” says Talin Aggarwal, Head Strategic Partnerships, Emerald Finance Limited.