SBFC Finance said that it has received certificate of registration from Insurance Regulatory and Development Authority of India (IRDAI) to act as a corporate agent under the insurance ACT 1938.
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 companys 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.
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