Nbfc Licence News Today

Fi, backed by Peak XV and Temasek, obtained an NBFC licence from RBI for independent lending. Like Jupiter, Groww, and Cred, Fi now offers loans and additional financial services.

The NBFC has already started wholesale lending operations under the brand name Wint Capital. The primary focus of Wint Capital will be lending to growth-stage NBFCs for onward lending in their business lines.

RBI regulations state that financial activity will be considered the principal business of a company when financial assets constitute more than 50% of the total assets and income from financial assets constitute more than 50% of the gross income.

An NBFC licence would allow fintechs to offer loans from their own books, thereby build an asset base. Without this licence, they remain confined as marketplaces to source loans for banks and other NBFCs.

ET has learnt that sellers need to apply to the central bank saying that they intend to transfer the licence to the acquirers name.

A week after ET reported that Dunzo may lay off more employees after the April carnage when it cut 300 jobs, more bad news is coming. The quick commerce company is turning to Reliance Retail, its largest investor, for a fresh cash infusion. It is not known if Reliance will oblige. This and more in todays ETtech Morning Dispatch.

A growing number of fintechs are hoping to play the credit game to keep users sticky and expand revenue opportunities

NBFC arm GetGrowth Capital aims to raise ₹200 crore in debt to scale its financing operations; on track to fund over 1,000 emerging SMEs across sectors including cleantech, D2C, EV, infrastructure, eCommerce, and SaaS, among others.

Ola will leverage the acquisitions to provide vehicle financing as well as personal loans, according to a report.