Money & Banking

Shubh Loans gets RBI’s NBFC licence

PTI New Delhi | Updated on October 09, 2019 Published on October 08, 2019

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. Shubh Loans said it has already raised series A2 funding of ₹34 crore ($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. Its CEO 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 optimising our borrowing rates.”

Published on October 08, 2019
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