Airtel Money starts Type II NBFC after RBI approval
Business
Airtel Money, part of Bharti Airtel, received RBI approval in February and has now begun operations as a Type II NBFC (basically, a nonbank lender that does not take deposits).
The move is all about making digital loans more accessible by using Airtel's tech and data smarts.
Airtel plans ₹20,000 cr investment
Airtel is investing ₹20,000 crore to grow this business and plans to use its huge customer base to offer fast, tech-driven loans.
So far, its platform has already helped disburse more than ₹9,000 crore in loans.
Bharti Airtel owns 70% of the company (the rest is held by Bharti Enterprises).
Gopal Vittal said the NBFC reflects Airtel's ambition to build a "differentiated, future-ready digital lending business."