Business Update11 Jan 2024, 05:55 pm
Ugro Capital Ltd Granted License to Operate as Factoring Business
AI Summary
Ugro Capital Ltd has been granted a license by the Reserve Bank of India (RBI) to operate as a factoring business without accepting public deposits under Section 3 of the Factoring Regulation Act, 2011. The license will enable the company to cater to the credit needs of MSMEs in India and explore various business opportunities.,
Key Highlights
- Granted license to operate as factoring business
- Enables the company to cater to the credit needs of MSMEs in India
- Empanelment with TReDS platforms to leverage reach and expertise into MSME sector