IIFL Finance launch neobank for MSME
IIFL Finance Limited and Asia's largest SME focused neo-banking platform
Open Financial Technologies announced a joint venture to launch India's first Neobank
The initial capital of the joint venture company will be Rs 120 crore.
The structure of a joint venture is between IIFL Finance and Open 51:49.
The name of the joint venture will be IIFL Open Fintech Private Limited.
There will be no technical capital expenditure for IIFL Open Fintech Private Limited
There will be no technical capital expenditure for IIFL Open Fintech Private Limited
There are over 2.3 million small and medium business traders on the Open Money platform.
This will enable you to open an account in less than two minutes without visiting any physical branch
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