Rapid Investments Limited was incorporated on February 2, 1978 as a Limited Company. The Company also was registered as a Non-Banking Finance Company under Reserve Bank of India on 25 May, 1998.
The Company is a leading player in Mortgage Loans since 2017-18 primarily in the unserved and unreached Semi urban & rural markets. Presently, it is operating in State of Rajasthan, having over 10 branches and has chalked out ambitious branch expansion and loan growth plans in the State. The Company is planning to open more branches and also focusing on strengthening the existing branches to improve and achieve the targeted loan growth.
The Reserve Bank Of India vide its order dated 5th July, 2018 cancelled the registration of NBFC under Section 45-IA of the RBI Act, 1934, for non compliance of minimum net owned funds of Rs. 2 Crore.