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As of 2016, LenDenClub had 700 lenders and 1,120 borrowers. [5] In 2018, LenDenClub raised another $1.5 million in its Pre-series A round, [6] and its parent company Innofin received a license from Reserve Bank of India to operate as an NBFC-P2P company. [7] By 2019, the company expanded its operations to six states. [6]
In Nov 2015, SKS Microfinance Ltd has cut interest rates by one percentage point to 19.75% on the loans it offers to low-income women borrowers, making it the sole Indian microlender to offer loans at a rate below 20%.The move came after Reserve Bank of India (RBI) decided to double the borrower limit for microfinance loans for less than 24 months.
The DEA (Department of Economic Affairs), Ministry of Finance, Government of India along with Reserve Bank of India, monitors and regulates ECB guidelines and policies. Most of these loans are provided by foreign commercial banks and other institutions. During the 2012, contribution of ECBs was between 20 and 35 percent of the total capital ...
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The company was founded in July 2007 as Fullerton India Credit Co. Ltd. In December 2021, SMFG, a Japanese financial holding company that owns Sumitomo Mitsui Banking Corporation and SMBC Trust Bank, purchased a 74.9% stake in Fullerton India, while the remaining 25.1% stake was held by Fullerton Financial Holdings, a Singaporean investment company owned by the Government of Singapore.
The company was founded by Sameer Gehlaut in 1995, as Indiabulls Ventures Limited which was later renamed Dhani Services Limited in October 2020 to accommodate the consumer business of the Indiabulls Group under one brand name. [3]