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    Question

    Which financial tech firm has received regulatory approval from the Reserve Bank of India (RBI) to operate as a green retail non-deposit taking non-banking financial company?

    A Muthoot Finance Correct Answer Incorrect Answer
    B Cholamandalam Correct Answer Incorrect Answer
    C L & T Finance Correct Answer Incorrect Answer
    D Ecofy Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    Eversource-promoted Accretive Cleantech Finance Private Ltd, operating as Ecofy  has received regulatory approval from the Reserve Bank of India (RBI) to operate as a non-deposit taking non-banking financial company (NBFC). This makes Ecofy one of its kind green retail NBFC in the country. Ecofy will lend to individuals and small businesses to accelerate the transition towards a net zero carbon world. The company will offer financial solutions for green asset classes such as electric vehicles (two and three-wheelers), rooftop solar and energy-efficiency SMEs.  

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