CashBean Extends Support to Over 50,000 People as the Country Battles COVID-19

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India, April 27, 2020: The whole world is in uncharted waters and facing unprecedented times. The coronavirus (COVID-19) is present nearly everywhere, and our community is no exception. These are challenging times for us all and we are doing everything possible to provide services to our community.

Pledging its support towards India’s fight against the pandemic, CashBean, one of the leading micro-lending applications, together with IN-DEED Foundation, announced a host of initiatives to support and empower Indians in these testing times.

To ensure that the Indians are fully equipped, safe and motivated to fight the COVID-19 battle, the Company is providing food and sanitation items such as sanitisers, liquid soaps, cotton masks and other home cleaning products to over 50,000 Indians. Additionally, it is donating a sum of Rs One Million to the PM-CARES Fund, reinforcing its commitment to local communities.

Commenting on the endeavour, Ilica Chauhan, Vice President, Compliance and Partnerships, P C Financial Services Private Limited said, “At CashBean, we have always been committed to supporting communities in times of need through our accessible micro-lending app. This time we want to make sure that families across India can have food on their table and first-hand sanitation equipment to keep themselves healthy and safe while the COVID-19 outbreak lasts.” Chauhan continued, “We are also extremely thankful with everyone who works at CashBean as management and employees have enthusiastically come together and contributed to the PM-CARES Fund to bring smiles on the faces of over 50,000 Indians.”

CashBean’s NGO partner for this endeavour – IN-DEED Foundation will be supporting in the procurement of food packets, packaging and distribution pan India.

Vikram Rajola, Chairman, IN-DEED Foundation said, “We are pleased that CashBean, has stepped up to join in the fight against the novel Coronavirus to prevent it from snowballing into a pandemic by contributing wholeheartedly to the IN-DEED Foundation. Through our volunteers and partner network, we shall strive to help whoever needs our help most, like essential service providers, vendors and small shopkeepers, police personnel and sanitation workers among others, as well as to people residing in crowded slums and resettlement colonies. We along with CashBean are working consistently to ensure that we support and empower people in such uncertain times.”

In these unprecedented times, our community needed more than financial help especially to take care of the hungry and poor, who are most affected by the lockdown, as they have no access to food. Anjali Agarwal, HR Head, P C Financial Services Private Limited volunteered and worked together with NGO Robin Hood Army to serve the hungry citizens and facilitated food in Gurugram and the surrounding communities. Hunger is a crisis that has so many people in its grip, and Cashbean is proud to partner with Robin Hood Army and will continue its efforts in making a difference to the poor.

Besides this, CashBean, being a responsible Corporate, took cognizance of the situation arising due to the COVID-19 pandemic and has voluntarily decided to waive off overdue penalty on delayed payments from March 1 till May 31, 2020. The company is also providing its customers with a moratorium till May 31, 2020, as per the RBI guidelines.

CashBean applauds the concerted efforts of the Government of India as well as the concerned State Governments to combat COVID-19. With this contribution, it is actively participating to support those efforts and reinforcing its commitment to ensuring the well-being of people across India during difficult times. As a way forward, it aims to continue supporting and safeguarding the communities in the times to come as and when required.