Equirus Group, a growing finance player, has recently secured approval from the Reserve Bank of India (RBI) to start its own Non-Banking Financial Company (NBFC). This move marks a significant step for the group as it plans to expand its lending operations and deepen its reach across India’s financial market.
The launch of the NBFC will allow Equirus Group to directly provide loans, tapping into the increasing demand for credit in various sectors. With a focused strategy, the group intends to build a loan book worth ₹3,000 crore, reflecting strong ambitions to serve retail and small business borrowers across the country.
Expanding Credit Access in India
India’s NBFC sector plays a vital role in supplementing bank lending, especially in underserved segments. With RBI’s approval, Equirus Group aims to leverage this opportunity to enhance credit availability for individuals and enterprises that need quick and flexible financing options.
The company plans to offer tailored financial products that cater to diverse needs, including personal loans, SME financing, and customized credit solutions. This approach is expected to help many Indians access affordable credit outside the traditional banking system.
Focus on Growth and Innovation
Equirus Group’s entry into the NBFC space is part of a larger trend where financial firms are innovating to serve India’s dynamic and evolving market. The group emphasizes technology-driven processes to speed up loan approvals and reduce paperwork, a benefit welcomed by busy professionals and small entrepreneurs alike.
By aiming for a ₹3,000 crore loan book, Equirus Group signals aggressive growth plans that will create new job opportunities and contribute to the economy. This expansion comes at a crucial time as India’s demand for consumer and business credit continues to grow rapidly.
What This Means for Indian Borrowers
For everyday Indians and small businesses, the launch of this new NBFC promises easier access to credit with flexible terms. It also increases competition in the lending market, which could lead to better rates and improved customer service.
In summary, Equirus Group’s RBI approval is a positive development for the Indian financial landscape. It reflects growing confidence in NBFCs as vital players in strengthening India’s economy and supporting borrowers who drive growth at the grassroots level.