Xiaomi India has started a non-bank financial institution, or better known as an NBFC in India, which will be responsible for facilitating financial services related to the bank, such as investments, contractual savings, among others services.
The new institution, Xiaomi Financial Services India is in search of the approval of the Reserve Bank of India (RBI). This new company was incorporated on October 10 as a subsidiary of Xiaomi Finance HK Ltd and Xiaomi Singapore Fintech, this data was obtained in the same register of companies.
The directors of this new company are nothing more nor less than the co-founder of Xiaomi Corp, Feng Hong, along with the general director of Xiaomi India, Manu Kumar Jain.
Xiaomi Financial Services India plans to offer loans to consumers
Xiaomi Financial Services India offers loans for the purchase of electronic products, products of daily life, utensils, office equipment, appliances, vehicles, furniture, tools, as well as loans to companies, corporations or any other entity that has the purpose the acquisition of goods, assets of any kind or merchandise, as revealed by the company registry of the Chinese firm.
Xiaomi India has a large arsenal full of all these items and plans to continue launching even more products in the next two years.
The firm ensures that these services will operate through online platforms for all the user who wants to request a loan.
Source: XiaomiToday En Español
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