Shell Foundation: The funding will be used to create a USD 2 million joint de-risking pool, known as First Loan Default Guarantee (FLDG), aimed at unlocking commercial capital for financing EVs for low-income transporters in India, with the help of larger financial institutions such as IREDA and SBI.
Gurugram-based RupeeRedee’s captive NBFC platform FincFriends has raised 3.5 million (around Rs 28.7 crore) from its existing shareholder, Digital Finance International (DFI).
This new funding brings ..
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The RBI has allowed non-bank prepaid payment instruments (PPI) issuers to issue e-RuPi vouchers, currently done by a few banks, in partnership with the NPCI for specific reasons, including payment of hospital bills, etc.
RBI said the fintech lenders can provide a default cover for up to 5% of the loan portfolio of the bank and also back in the form of cash deposits, deposits