New RBI Grade B 2025 Notification will come Soon! Enroll Here

    Question

    Neobanking startup ______ has secured a non-banking

    finance company (NBFC) license from the Reserve Bank of India (RBI) to capitalize the lending business with around Rs 100 crore and raise an additional Rs 100 crore in debt to fund the NBFCs credit operations.
    A FamPay Correct Answer Incorrect Answer
    B InstaPay Correct Answer Incorrect Answer
    C Jupiter Correct Answer Incorrect Answer
    D Chqbook Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Neobanking startup Jupiter has secured a non-banking finance company (NBFC) licence from the Reserve Bank of India (RBI).     Sequoia and Tiger Global backed-Jupiter intends to capitalise the lending business with around Rs 100 crore and raise an additional Rs 100 crore in debt to fund the NBFC’s credit operations. It aims to hit annual disbursements of Rs 600-700 crore in short- and medium-term personal loans.

    Practice Next

    Relevant for Exams: