Current Context: InPrime Finserv is a financial services start-up that aims to serve the emerging “Prime” segment within the informal economy in India.
- It was founded in 2021 by Rajat Singh, Manish Kumar Raj and Sneh Thakur.
- It recently obtained a Certificate of Registration (COR) from the Reserve Bank of India (RBI) to operate as a Non-Banking Financial Company (NBFC).
- This is a significant milestone for the company as it will enable it to offer more advanced and customized financial products and services to its customers.
- NBFCs can offer more customized and flexible financial products and services to their customers, especially those who are underserved or unbanked by the formal banking sector.
- NBFCs have lower operating costs and regulatory requirements than banks, which gives them an edge in terms of efficiency and profitability.
