Siemens has received the certificate of registration from the Reserve Bank of India to operate a non-banking finance company for its financial services business in India.

The NBFC arm will operate in the name of Siemens Financial Services Private Ltd (SFSPL).

Siemens said SFSPL will focus on developing an asset financing business by offering loans, leasing and other finance products, as permitted by the RBI, to Siemens customers in India in the industry, energy and healthcare sectors, besides pursuing opportunities in other third party markets.

“This represents a major milestone in the development of Siemens Financial Services (SFS) in the Asia-Pacific region. India is a highly dynamic market with a growing demand for financing in many key segments,” said Mr Axel Scholz, CEO, Siemens Financial Services Commercial Finance Asia-Pacific.

“With the non-banking finance company licence, we will be able to offer a range of value added financing solutions to Siemens customers, as well as work with third party vendors and business customers on a direct basis,” he said.

The Financial Services division of Siemens is a global provider of financial solutions in the business-to-business area.

With over 2,000 employees and an international network of financial companies, coordinated by Siemens Financial Services GmbH, Munich, it supports Siemens as well as non-affiliated companies, focusing on the three sectors of energy, industry and healthcare.

SFS finances infrastructure, equipment and working capital and acts as a competent manager of financial risks within Siemens.

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