Emerald Finance Limited (INE030Q01015) has announced a strategic partnership with Centre for Skin and Hair Private Limited to introduce an innovative Early-Wage-Access program for employees. This collaboration marks a significant step in Emerald Finance's mission to expand its offerings and cater to retail customers through advanced salary solutions.

Key Highlights of the Partnership

• Program Overview: The Early-Wage-Access program allows employees to access a portion of their earned salaries throughout the month, providing immediate financial flexibility.
• Partner Details: Centre for Skin and Hair Private Limited, headquartered at D-305, First Floor, Defence Colony, New Delhi, will be the first to implement this program for its employees.
• Financial Relief: The initiative aims to offer instant financial relief to employees by enabling seamless access to their earned wages before the traditional payday.

Operational Mechanism

Emerald Finance's new product operates on a unique model:

1. Employer Partnerships: The company collaborates directly with employers to facilitate the program.
2. Short-Term Loans: Employees can avail short-term loans in the form of salary advances.
3. Repayment Process: The borrowed amount is repaid through salary deductions, ensuring a streamlined and hassle-free process.

Strategic Alignment

This partnership aligns with Emerald Finance's vision to diversify its product portfolio and expand its reach in the retail customer segment. By introducing the salary advance solution, the company is positioning itself at the forefront of innovative financial services.

Regulatory Compliance

In adherence to the Securities and Exchange Board of India (SEBI) regulations, specifically Regulation 30 of the Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015, Emerald Finance has duly informed the BSE Limited about this significant development.

The move by Emerald Finance Limited to enter the Early-Wage-Access market demonstrates the company's commitment to addressing the evolving financial needs of the modern workforce. As businesses continue to seek ways to enhance employee benefits and financial well-being, such innovative financial solutions are likely to gain traction in the corporate landscape.

Emerald Finance Limited has announced a strategic partnership with Prerna Education Services to introduce an Early-Wage-Access program for Prerna's employees. This collaboration marks a significant step in Emerald Finance's expansion strategy and its commitment to serving retail customers through innovative financial solutions.

Partnership Details

The partnership, disclosed in a regulatory filing to the Bombay Stock Exchange (BSE), aims to provide Prerna Education Services' employees with the ability to access a portion of their earned salaries throughout the month. This initiative is designed to offer instant financial relief to employees, enhancing their financial flexibility and well-being.

Early-Wage-Access Program

The Early-Wage-Access program is a short-term loan solution that allows employees to receive salary advances. Key features of the program include:

• Seamless access to a part of earned salaries before the regular payday
• Short-term loans structured as salary advances
• Repayment collected through salary deductions

Strategic Alignment

This partnership aligns with Emerald Finance's vision to expand its product offerings and cater to a broader retail customer base. The company has been developing salary advance solutions as part of its growth strategy, focusing on collaborations with employers to facilitate these financial services.

About the Companies

Emerald Finance Limited

• A financial services company listed on the BSE
• CIN: L65993CH1983PLC041774
• Headquarters: Chandigarh, India

Prerna Education Services

• An education services provider
• Registered office: H-81, South Extension Part-I, New Delhi

Regulatory Compliance

The partnership announcement was made in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was signed by Amarjeet Kaur, Company Secretary cum Compliance Officer of Emerald Finance Limited.

This strategic move by Emerald Finance demonstrates the company's commitment to innovation in the financial services sector and its focus on addressing the evolving needs of employees in partner organizations.