RBI grants NBFC licence to CredAble's subsidiary

Fintech firm CredAble, which caters to B2B segment, Thursday said it has received non-banking finance company (NBFC) licence from RBI.

The company's wholly-owned subsidiary Equentia Financial Service Private Limited has been granted a non-deposit taking non-banking financial company (NBFC) licence by the RBI, a company statement said

The NBFC licence will allow CredAble to lend directly to small and medium-sized enterprises (SMEs) and micro, small and medium enterprises (MSMEs) and access debt markets to optimise its capital structure, providing suppliers with increased access to on-tap funding and untapped lending opportunities, it said.