Rural-focused Fintech Startup Jai Kisan Secured NBFC Licence

Current Context: Jai Kisan, a rural-focused fintech startup, has recently secured a Non-Banking Financial Company (NBFC) license.

• This license was obtained following their acquisition of a majority stake in Kushal Finnovation Capital.
• With this new license, Jai Kisan can now offer customized financial products, including loans, directly from its portfolio.
• They will also be able to enter into co-lending partnerships with financial institutions, including public sector banks in India.
• This move is expected to significantly enhance their ability to provide tailored financial solutions to farmers and rural businesses.

Question:

1 What type of license has Jai Kisan recently secured?

• A) Payment Bank License
• B) Non-Banking Financial Company (NBFC) License
• C) Insurance License
• D) Universal Bank License

Answer: B) Jai Kisan secured an NBFC license, allowing them to offer customized financial products, including loans directly from their portfolio.