Mumbai: Eversource-promoted Accretive Cleantech Finance Personal Ltd, working as Ecofy, on Thursday stated it has obtained regulatory approval from the Reserve Financial institution of India (RBI) to function as a non-deposit taking non-banking monetary firm (NBFC).
This makes Ecofy one in all its sort inexperienced retail NBFC within the nation, the corporate stated in an announcement.
Ecofy is promoted by Eversource Capital, a local weather impression investor together with NBFC business professionals Rajashree Nambiar (former chief govt of Fullerton India Credit score Firm Ltd.) and Govind Sankaranarayanan (former group chief working officer and chief monetary officer, Tata Capital Ltd).
“Ecofy will lend to people and small companies to speed up the transition in the direction of a web zero carbon world. The corporate will supply monetary options for inexperienced asset lessons similar to electrical automobiles (two and three-wheelers), rooftop photo voltaic and energy-efficiency SMEs,” it stated.
Ecofy’s choices embody loans, leases, insurance coverage, warranties, and buybacks for all inexperienced wants.
Rajashree Nambiar, co-founder and chief govt of Ecofy, stated, “Finance is a important enter that may catalyse the much-needed inexperienced transition for a web zero emission future. Ecofy is on a mission to assist people and small companies which might be making inexperienced decisions and restoring steadiness to the planet.”
Dhanpal Jhaveri, vice-chairman, Everstone Group and chief govt of Eversource Capital, stated, “Ecofy is constructing a digital first inexperienced lending enterprise to handle a much-needed financing hole in India’s local weather change agenda. Right this moment, inexperienced property and companies should not solely local weather optimistic however are additionally worth accretive.”
Obtain The Mint Information App to get Every day Market Updates.
Extra
Much less
Supply: Live Mint