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16 Nov 2018, 06:23 HRS IST
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  • PTI
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  • Nitstone Finserv to Commence NBFC Operations

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10:24 HRS IST

(Disclaimer: The following press release comes to you under an arrangement with PRNewswire. PTI takes no editorial responsibility for the same) BANGALORE, July 12, 2018/PRNewswire/ -- Nitstone Finserv announced today that they got RBI approval to operate NBFC, which will help promote inclusive growth in the country, by catering to the diverse financial needs of various segments of the society.

Headquartered in Bengaluru, Nitstone plans to commence business in Bengaluru, followed by branches in Pune, Hyderabad, Chennai during the current financial year and has a nationwide expansion plan in coming years.

With this technologically equipped platform, people can now avail fast, simple & flexible loan services to meet their financial needs. Primary focus of these products will be to deliver easy finance to SMEs, self-employed, salaried personals and students.

Mr. Govindankutty Edaden, Executive Vice President, Nitstone Finserv said, "The Non-Banking Financial Companies (NBFCs) have rapidly emerged as an important and alternative lending option to provide financial support to the various sectors. Considering the prospering Indian Economy, this setup has definite and important role to play."

"NBFCs have traditionally complemented the role of banking sector by providing easy access to finance for the borrowers through simplified processes Nitstone aims at contributing to the economic development of the Country by providing adequate financial support to the borrowers at competitive pricing and faster response time," added Mr. Govindankutty.

About Nitstone Finserv

Nitstone Finserv Private Limited is a technologically equipped NBFC Company taking radical approach to lending and financing. From unprecedented products and tools to faster service, we are all about helping our consumers get ahead, grow and find success.

Whether they are looking to finance their personal needs, education, buy consumer durables or ascend in/start their business, we promise to empower our consumers to accomplish the goals they set and achieve financial greatness and growth For more information, visit the company website at www.nitstone.com Facebook: https://www.facebook.com/NitstoneFinserv/ Twitter: https://twitter.com/NitstoneFinserv Media Contact: Mr. Govindankutty Edaden govindankutty.e@nitstone.com +91-9846163358 Executive Vice President Nitstone Finserv Pvt. Ltd.

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