The Centrum Group has obtained the Certificate of Registration (CoR) from the Reserve Bank of India (RBI) to commence Micro Finance Lending operations. Centrum Microcredit, a step-down subsidiary of Centrum Capital, will focus on providing loans to un-served and under-served borrowers operating small businesses in semi-urban areas, under the Joint Liability Group (JLG) model.
To get the business off to a strong start, Centrum has executed definitive agreements to acquire the micro finance business of FirstRand Bank India (FRBI). FRBI's micro finance business comprises of around 70,000 customers with an average ticket size of Rs 20,000, operating in Maharashtra with an employee strength of over 300 people.
Centrum Capital is an investment banking company, which offers a range of financial services in the areas of equity capital market, private equity, corporate finance, project finance and stressed asset resolution.
