Browsing: NBFC

Dinanath Dubhashi, Managing Director & CEO of L&T Finance Holdings Ltd. said, “We are amongst the leading financiers in Micro Loans today and continue to expand in the unserved and under-served regions of our nation. We are committed to empowering micro-entrepreneurial women and enabling sustainable livelihood at the grassroot level through our innovative and digital lending solutions.

Dinanath Dubhashi, Managing Director & Chief Executive Officer, L&T Finance Holdings said, “The PLANET app is the cornerstone in the plan to create a Fintech @ Scale under the Lakshya 2026 roadmap. With this app, we aim to establish a geo-agnostic sourcing and servicing channel and have seen a consistent pick-up in the app since its launch.

Small Industries Development Bank of India (SIDBI), the country’s apex financial institution for MSMEs, announced entering into its first co-lending…

Piramal Finance aims to have a team of over 300 professionals at the Piramal Innovation Lab in Bengaluru for various tech and business intelligence positions, and will complement the existing large pool of professionals led by Saurabh Mittal (Chief Technology Officer) and Markandey Upadhyay (Head of the Business Intelligence Unit) across Mumbai and Bengaluru.

Shriram Finance will be a diversified player with a robust net worth of Rs 40,900 Crs and Assets under Management (AUM) of Rs 1,71,000 Crs, the Company caters to over 6.7 million customers across India. The growth strategy for the Company will be focused on driving the self-employed and the MSME economy.

“Digitization in collections in microfinance sector has been a great challenge as most of the MFI clients do not possesses smart phones. In this connection the association with NextGen will help in developing a new payment and collection system by using feature phone with the technological intervention being provided by them. We see a great future for this initiative to bring this segment on the digital financial inclusion platform and achieving the Prime Minister’s digital mission.” said Jiji Mammen, ED & CEO, Sa-Dhan. 

Under the co-lending partnership agreement, Navi will originate and process the personal loans based on mutually aligned credit parameters and eligibility criteria. Piramal Finance will fund 80% of the loan generated by the co-lending arrangement while the remaining 20% will be funded by Navi Finserv (NBFC, wholly owned subsidiary of Navi Technologies).

Ashish Sapra, CEO, said, “In H1 FY23, our business picked up momentum largely driven by robust consumer sentiment coupled with a good monsoon. The Tractor Loan disbursals in Q2 FY23 has grown by 130% vis a vis Q2 FY22. We have added 1.6 million+ customers in H1 FY23, bringing our total customer base to 9.4 million+ as of date.”

Gagan Aggarwal said, “I am thrilled to join Clix Capital at this exciting juncture in the brand’s journey. I hope to contribute meaningfully as Clix Capital moves forward in its journey ahead – towards break-out growth.” 

Narendra Ostawal, Managing Director, Warburg Pincus said, “We believe micro-enterprises in semi-urban and rural India are underserved by formal sources of credit and we believe Vistaar has the potential to fulfil that need gap and be a driver for broad-based growth on those regions and communities. Warburg Pincus has a deep history in partnering with exceptional teams, particularly within financial services and looks forward to a similarly exciting future at Vistaar.”