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RBI Provides License to ftcash

Published on November 10, 2022
Current Context: The Reserve Bank of India (RBI) issued a license to ftcash for setting up a Non-Banking Financial Company (NBFC).
RBI Provides License to ftcash
  • The NBFC License issued by the RBI will help ftcash in bridging the credit gap.
  • After the issuance of the license, ftcash announced that it will aim to disburse loans worth INR 100 crores in FY23.
  • The company will offer loans with minimal documentation in addition to the facility of daily repayment through Point on Sale (PoS).
  • To offer better credit facilities to its customers, ftcash, also entered into partnerships with various financial service providers viz. Northern Arc, Urgo, and Ambit.
  • ftcash is a micro-lending start-up that provides credit facilities to Small and Medium Enterprises (SMEs) and was established in 2015 with its headquarters in Mumbai. The current CEO of the company is Sanjeev Chandak.


Q.1 The RBI recently provide the NBFC License to which of the following?
a. Annapurna Microfinance Pvt. Ltd.
b. ftcash
c. Cashpor Micro Credit

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