Rural Fintech Startup Jai Kisan Secures RBI Nod for NBFC Kushal Finnovation Capital Acquisition

Rural fintech startup Jai Kisan has received approval from the Reserve Bank of India to acquire a majority stake in NBFC Kushal Finnovation Capital. This move will allow Jai Kisan to offer tailored financial products to farmers and rural businesses more effectively. The acquisition also aims to strengthen partnerships and promote financial inclusion.

Rural fintech startup Jai Kisan announced on Tuesday that it has secured regulatory approval from the Reserve Bank of India to acquire a majority stake in NBFC Kushal Finnovation Capital.

While the specifics of the stake acquired remain undisclosed, the acquisition is set to enable Jai Kisan to efficiently deliver customized and innovative financial products to its farmer and rural business customers. This will result in cheaper, faster, and more impactful offerings.

In addition, the acquisition aims to bolster Jai Kisan's partnerships with financial institutions, enhancing co-lending capabilities and promoting financial inclusion. According to Jai Kisan co-founder and CEO Arjun Ahluwalia, the move will allow the company to provide credit products according to the specific needs and timings of its rural clientele.

(With inputs from agencies.)