STOCK MARKET BSE NSE

Fintech start-up Subh Loans gets NBFC licence from RBI

The company said the licence has been received through the subsidiary of its parent company Datasigns Technologies.

Published: 08th October 2019 06:33 PM  |   Last Updated: 08th October 2019 06:33 PM   |  A+A-

RBI

Reserve Bank of India (File Photo | PTI)

By PTI

NEW DELHI: Fintech start-up Shubh Loans on Tuesday said it has received a licence from the Reserve Bank of India to set up a non-banking financial company.

The company said the licence has been received through the subsidiary -- Ekagrata -- of its parent company Datasigns Technologies.

Shubh Loans said it has already raised series A2 funding of Rs 34 crore (USD 4.8 million) from Omidyar Network India.

Shubh Loans, which is fast changing the way loans are disbursed and making credit accessibility easier, is set to implement NBFC compliant frameworks and governance processes, it said in a release.

Shubh Loans Chief Executive Officer and founder Monish Anand said, "Our customers have a lot to benefit from the new status given by the RBI. The NBFC certification is a shot in the arm that will us to serve more under-served segments, enable co-lending with our partners, and also help in optimizing our borrowing rates."



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp