Navi Technologies Scaling Up Despite RBI’s Unsecured Loan Norms
In an exclusive interview with Moneycontrol, Navi Technologies founder and chairman Sachin Bansal revealed that despite the recent tightening of risk weight for unsecured loans by the Reserve Bank of India (RBI), the company has been scaling well. Navi Finserv, a fintech company, is currently offering its third non-convertible debentures (NCDs) with an issue size of Rs 600 crore. Notably, around 90 percentof Navi’s portfolio consists of unsecured loans, such as personal loans, while the remaining 10 percent comes from home loans.
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What’s particularly interesting is that two-thirdsof Navi Technologies’ customers are coming from outside the top 10 cities in India, indicating the company’s reach and growth beyond metropolitan areas. Despite regulatory challenges, Navi remains open to external investment for acquisitions and aims to maintain a cash cushion for uncertain times.
As the fintech landscape evolves, Navi’s ability to navigate regulatory changes while expanding its customer base underscores its resilience and strategic vision. The company’s focus on unsecured loans and its successful scaling efforts position it well in the competitive financial services sector.
Source: Moneycontrol