Vreedhi Financial Services (VFS) has secured a non-banking finance company licence from the Reserve Bank of India. It’s objective is to provide credit and other services to micro-enterprises operating in tier two-three cities and small towns. The company will create a digital lending model by the next financial year. It will address the gap between the addressable and viable credit in the micro-enterprises space which is $123 billion as per the study conducted by the International Finance Corporation (IFC).
Static/Current Takeaways Important For RBI Grade ‘B’ 2019:
- Governor of RBI: Shaktikanta Das; Headquarters: Mumbai.
- Founded: 1 April 1935, Kolkata.
Source: The Economic Times