Fintech Startup Jai Kisan Secures NBFC Licence

Jai Kisan, a fintech firm with a focus on rural areas, has acquired a controlling share in Kushal Finnovation Capital, a non-banking finance company (NBFC) that specializes in supply chain financing. As a result of this transaction, Jai Kisan has gained an NBFC license.

By obtaining this new Non-Banking Financial Company (NBFC) license, Jai Kisan is now able to provide tailored financial products, such as loans, directly from its own collection of offerings. The company would have the opportunity to establish co-lending collaborations with financial institutions, such as public sector banks in India.

Before, Jai Kisan's range of products was restricted to those offered by its partner banks and NBFCs through its platform. According to Ahluwalia, the new license allows Jai Kisan to develop and provide customized financial solutions to farmers and rural enterprises directly.

Jai Kisan is a fintech platform that uses technology to provide financial services to rural businesses, consumers, and farmers. The company has created a digital ecosystem that links corporations, rural intermediaries (such as distributors, retailers, and suppliers), and financial institutions (including banks and NBFCs) to enable supply chain financing and buy-now-pay-later (BNPL) choices for items such as agricultural inputs and equipment.

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Jai Kisan asserts that it has formed alliances with more than 350 corporations, catered to over one hundred thousand rural enterprises, aided over eight hundred thousand farmers, and facilitated the distribution of over Rs 6,000 crore.

The company has augmented its advisory board by appointing esteemed bankers, including Arvind Kathpalia, the former group president and chief risk officer at Kotak Mahindra Bank, as a senior credit risk advisor, and Ravi Duvvuru, the former president and chief compliance officer at Jana Small Finance Bank, as a senior advisor specializing in governance and regulatory compliance.

Arjun Ahluwalia, said: “Close to a billion people reside in the hinterlands of India. Positive government reforms and the availability of affordable data and smartphones have transformed rural India into an equally connected community. The NBFC license allows us to cater to our farmer and rural business customers with credit products they want, how they want them, when they want them, and where they want them – which is what they deserve,”

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