Hyderabad-based startup AnyTimeLoan.in receives NBFC license from RBI

FILE PHOTO: A security personnel member stands guard at the entrance of the Reserve Bank of India (RBI) headquarters in Mumbai | Photo: Reuters
Hyderabad-based startup AnyTimeLoan.in has secured a non-banking financial company (NBFC) peer-to-peer license from Reserve Bank of India (RBI). Incubated at Hyderabad startup incubation centre T-Hub, AnyTimeLoan.in facilitates instant unsecured loans (personal, education and business loans) to eligible borrowers by connecting them with investors or lenders across India through a digital ecosystem.

ALSO READ: German digital lender Kreditech gets RBI license to operate as NBFC

The lending platform has a minimum net owned fund of Rs 20 million and over the past few four years, it has disbursed over 57,000 loans, aggregating to over Rs 620 million. The company aims to hit a monthly loan disbursal rate of Rs 1 billion in the next 18 months.

According to AnyTimeLoan.in founder Keerthi Kumar Jain, what makes it an attractive proposition is that investors and borrowers are not charged any registration fee, and the company earns its revenue only when investors get their money back along with returns.

Commenting on the NBFC certification, Jain said, " Our primary goal of enabling millions of Indians to experience financial independence by facilitating instant loans for them is enroute to becoming a reality. This is a very significant milestone for our company as it further strengths the trust our investors and borrowers have on us."


Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel