Cash Suvidha bags title of “Most Promising NBFCs to watch out for”

New Delhi, May 8 (KNN) Cash Suvidha; a trade name of Usha Financial Services, a Fintech company has been awarded and acknowledged as one of the “Most Promising NBFCs to watch out for” in the Country at the 3rd edition of NBFC100 Tech Summit.

The NBFC extends business loans to MSMEs, women entrepreneurs for income generation purpose and personal loans to individuals.

The summit brought together various stakeholders, technology partners and the policymakers under one roof to focus upon the changing dynamics of the financial sector and projecting the role of NBFCs in ensuring the same.

Utkarsh Gupta, Partner Growth & New Initiatives, Cash Suvidha said NBFCs being an integral part of financial system plays an important role in the government’s agenda of financial inclusion.

He said Usha Financial Services is a category B-NBFC which caters the need of unbanked sections of Indian society under the regulatory oversight of the RBI.

“We are embracing technology for a brighter future as tech-driven innovations continue to play an extremely important role in transforming the way financial services are undertaken,” he added.

The company which is known for its quick digital processing, easy lending services and disbursing loans within 2 working days has disbursed around Rs 122 crore of loans in the financial year 2017-18 and further aims to disburse Rs 400 crore loan amount by the end of March 2019.

Cash Suvidha began its operations in May 2016 after which they have been playing a significant role in empowering people to fulfil their ambitions.

Since its inception, Cash Suvidha has disbursed to 35,000+ borrowers and the average ticket size of loan is Rs 20,000- Rs. 5,00,000.