SIDBI launches Scheme for Assistance to New Age Fin-Tech NBFCs
- Small Industries Development Bank of India (SIDBI) has launched a Scheme for Assistance to New Age Fin-Tech NBFCs registered as Investment and Credit Company (ICC) with the RBI. It as been launched on pilot basis.
- SIDBI will extend financial assistance of up to ₹10 crore to new-age fintech non-banking finance companies (NBFCs) engaged in financing small businesses and other income-generating activities
- Fintech NBFCs are digital loan companies. They leverage information technology to provide fast and convenient access to funding.
Eligibility and Facts:
- Minimum Net Owned Fund: Rs 20 Crore
- Minimum Asset Size: Rs 50 Crore
- Maximum Exposure/Maximum Assistance: Rs 10 Crore