RNFI Services Limited was originally incorporated as ‘RNFI Services Private Limited’, a private limited company under Companies Act, 2013, pursuant to a certificate of incorporation dated October 13, 2015 issued by the Registrar of Companies, Delhi. Subsequently, the company was converted into a public limited company pursuant to a resolution passed by its shareholders at an Extra-ordinary General Meeting held on November 22, 2023 and a fresh certificate of incorporation dated December 28, 2023 was issued by the Registrar of Companies, Delhi consequent upon conversion, recording the change in name of the company from ‘RNFI Services Private Limited’ to ‘RNFI Services Limited’.
The company is a tech enabled platform offering financial technology solutions in B2B and B2B2C financial technology arena through an integrated business model via its online portal and mobile application, focusing on providing banking, digital and Government to Citizen (G2C) services on PAN India basis. It segregates its business primarily into four segments namely (i) business correspondent services; (ii) non-business correspondent services; (iii) full-fledged money changer service; and (iv) insurance broking. It is providing full-fledged money changer service through its Material Subsidiary (wholly owned), namely RNFI Money which is RBI registered full-fledged money changer (FFMC) and insurance broking service through its wholly-owned Subsidiary, namely Reliassure Insurance Brokers which is registered as a direct broker (Life and General) with IRDAI.
It acts as a bridge to ensure the availability of tech enabled financial services throughout the country, including to the underserved population in remotest of the places by connecting them to formal financial channels. It also provides business and income-generating opportunities for shopkeepers and network partners by enabling them to provide banking, digital and government services to the end customers through its web and mobile application via an assisted model. It started its journey in the year 2015 in the fintech sector with a mission to empower rural India by promoting the accessibility of financial technology with simple and efficient financial solutions and contribute to the development of a DIGITAL BHARAT and a vision to become one of the leading financial solutions provider.
Business area of the company
The company is a tech enabled platform offering financial technology solutions in B2B and B2B2C financial technology arena through an integrated business model via its online portal and mobile application, focusing on providing banking, digital and Government to Citizen (G2C) services on PAN India basis.
Awards and accreditations
- 2021: ISO 9001:2015 for providing services facilitating financial inclusion program's and acting as corporate business correspondents to banks and payment banks, providing fintech platform and ensuring digital and online financial services for AEPS, MATM, DMT, BBPS, recharges, wallet loadings, CMS services, MPOS, QR codes, Aadhaar pay, IRCTC, flight ticket bookings and issuance of PPI instruments by Otabu Global Services Private Limited.
- 2021: ISO/IEC 27001:2013 for providing services facilitating financial inclusion program's and acting as corporate business correspondents to banks and payment banks, providing fintech platform and ensuring digital and online financial services for AEPS, MATM, DMT, BBPS, recharges, wallet loadings, CMS services, MPOS, QR codes, Aadhaar pay, IRCTC, flight ticket bookings and issuance of PPI instruments by Otabu Global Services Private Limited.
History and milestones
- 2015: Incorporated as RNFI Services Private Limited.
- 2017: The company became business correspondent of a leading Private sector bank.
- 2018: The company forayed into financial inclusion division by becoming a business correspondent of Public sector bank and Private sector Payment banks.
- 2019: The company entered into tourism industry, emerging as principal agent of IRCTC for train bookings.
- 2019: The company also became business correspondent for Fino Payments Bank.
- 2020: The company established a Wholly-owned Subsidiary namely, RNFI Money Private Limited.
- 2021: The company acquired a Subsidiary namely, Paysprint Private Limited.
- 2021: The company became business correspondent for NSDL Payments Bank.
- 2022: The company established a Wholly-owned Subsidiary namely, Reliassure Insurance Brokers Private Limited.
- 2022: The company became business correspondent for prominent Public sector bank.
- 2022: The company became a designated partner in Reliconnect LLP.
- 2022: The company associated with Ministry of Electronics & Information Technology for UMANG Project and Centre for Digital Financial Inclusion (CDFI).
- 2022: The company became vendor of a wholly owned subsidiary of a leading Public sector bank for delinquent loans collections.
- 2023: The company became business correspondent for prominent Public sector bank.
- 2023: The company became business facilitator for a leading Private sector bank.
- 2023: The company partnered with Maharashtra State Rural Livelihood Mission (MSRLM) for Woman Empowerment.
- 2023: Conversion of the Company from a private limited company to a public limited company.
- 2024: The company became business correspondent of two Private sector banks. Also, associated with a Private sector bank for provision of doorstep banking services.
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