Climate-focussed NBFC Ecofy raises $10 8M to grow its loan book yourstory.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yourstory.com Daily Mail and Mail on Sunday newspapers.
Montra Electric, the electric vehicle brand of Murugappa Group, has partnered with Ecofy to provide financing solutions for the purchase of electric three-wheelers. This collaboration aims to facilitate the adoption of electric vehicles in India and overcome the financial barriers that hinder their uptake. The growth of EV passenger vehicles and cargo vehicles in the country emphasizes the need for accessible financing options.
India s one of its kind green-only NBFC, Ecofy, has joined forces with Piaggio Vehicles Pvt Ltd (PVPL), a 100 % subsidiary of the Italian auto giant Piaggio Group,
Shantanu Mitra will re-join Temasek-backed Fullerton India Credit Company Limited (Fullerton India), as its chief executive and managing director from April 2. Earlier, he was MD and CEO of the company in 2017. Rajashree Nambiar stepped down as MD & CEO in January 2021 after a three-year stint to pursue outside interests. Fullerton, in a statement, said Mitra has over 20 years experience at Standard Chartered and Citibank, where he had stints in India, Singapore and Thailand. His role in Standard Chartered was Senior Regional Risk Officer, India, Middle East & Africa, based in Mumbai. His previous experience with Fullerton included a stint from 2010 to 2017, initially as the head of consumer risk for the parent company Fullerton Financial Holdings and subsequently a very successful tenure as CEO & MD.
Temasek-backed Fullerton India Credit Company on Friday said Managing Director and Chief Executive Rajashree Nambiar stepped down after a three-year stint to pursue outside interests.
Nambiar will take an advisory role during the transition period. The company also announced changes in senior leadership positions.
While Chief Risk Officer Pavan Kaushal has been appointed chief operating officer, Chief Financial Officer Pankaj Malik will also work as the head of strategy execution, the company said.
Kaushal and Malik will be part of an interim executive committee and report to the board. Sunil Kaw has been appointed interim chief risk officer.
The overall strategy and direction for the companies remain unchanged and will continue to be reviewed by the respective Boards from time to time, it said.