Siemens have received permission from the RBI to operate NBFC

By | May 16, 2011

A recent press report said that the global electronics major Siemens has been granted a non-bank lender license by the Reserve Bank of India for providing financial services to its Indian customers.

Reports said that Siemens Financial Services (SFSPL), the NBFC, will focus on developing an asset financing business by offering products such as loan, leasing and other finance products to its customers in India in the industry, energy and healthcare sectors. Reports also said that it will pursue opportunities in other third party markets.

Mr. Axel Scholz, chief executive, Siemens Financial Services commercial finance Asia Pacific said in a press release that Siemens has planned to offer a range of value-added financing solutions to their customers, as well as working with third party vendors and business customers on a direct basis.

The Siemens Group in India has emerged as a leading inventor, innovator and implementer of leading-edge technology enabled solutions operating in the core business segments of Industry, Energy and Healthcare. The Group’s business is represented by various companies that span across these various segments. As a global player, Siemens offer its customers direct access to a comprehensive network of banks, export-credit agencies and in house financial experts around the world.

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About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

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