Rural fintech startup Jai Kisan gets RBI approval for NBFC acquisition

Industry:    3 months ago

Rural fintech startup Jai Kisan on Tuesday said it has received regulatory approval from the Reserve Bank of India for the acquisition of a majority stake in NBFC Kushal Finnovation Capital.

Details of the stake acquired were not disclosed.

“With the NBFC subsidiary, Jai Kisan will be able create and deliver customized, innovative, and relevant products directly to its farmer and rural business customers in a more accessible and seamless manner making its products cheaper, faster, and more impactful,” Jai Kisan said in a statement.
The acquisition will also enable Jai Kisan to strengthen its partnerships and integrate systems more deeply with its financial institution partners to provide co-lending and further financial inclusion, it added.
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