MoneyWorks4Me

Arman Financial Services’ arm concludes refinance assistance of Rs 35 crore from NABARD

04 Jan 2019 Evaluate

Arman Financial Services’ wholly owned subsidiary -- Namra Finance has successfully concluded a Refinance Assistance of Rs 35 crore from National Bank for Agriculture and Rural Development (NABARD). It has also entered into a General Refinance Agreement (GRA) with NABARD which paves the way for similar transactions in the future as well.

Namra has been able to increase the microfinance business substantially despite a major setback in the industry after demonetization.

Arman Financial Services, a leading Gujarat based nonbanking financial company (NBFC), with interests in microfinance, two wheelers and MSME loans.

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