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Ecofy Gets NBFC License from RBI

Published on November 27, 2022
Current Context: The Reserve Bank of India (RBI) gave regulatory approval to Ecofy to operate as a non-deposit-taking Non-Banking Financial Company (NBFC).
Ecofy Gets NBFC License from RBI
  • The regulatory approval by the RBI makes Ecofy a one-of-a-kind green-only retail NBFC in India.
  • This approval will empower Ecofy to disburse the loan to individuals and small enterprises to enhance the transition to a zero-carbon world.
  • It will provide financial support in sectors such as:
  1. e-Vehicles (two-three wheelers)
  2. rooftop solar installations
  • An NBFC registered under the Companies Act of 1956/2013 is a company that provides a range of banking services but doesn’t have a banking license.
  • Ecofy is an Eversource-promoted company and was established in March 2022 with its headquarters in Mumbai. The current Directors of the company are Govind Sankaranarayanan and Pankaj Thapar.


Q.1 Recently Ecofy got the regulatory approval to operate as a non-deposit-taking Non-Banking Financial Company (NBFC) by?
b. RBI
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