The company will be able to solicit insurance products to its customers as a corporate agent. The registration shall be valid from 25th November 2024 to 24th November, 2027.
SBFC Finance is a non-deposit-taking NBFC, catering primarily to entrepreneurs, small business owners, self-employed individuals, and salaried or working-class customers. The company offers services through secured MSME loans and loans backed by gold.
The company’s consolidated jumped 60% to Rs 84.16 crore on 27.6% increase in total income to Rs 314.51 crore in Q2 FY25 over Q2 FY24.
The counter rallied 4.13% to end at Rs 87.72 on 25 November 2024.