Stay updated with breaking news from Nbfc Licence. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
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.