Siemens gets RBI nod for NBFC foray

In order to provide financial services to its Indian customers, the global electronics major Siemens today said it has been granted a non-banking lender licence by the Reserve Bank of India.

"Siemens has received a Certificate of Registration from the RBI to operate a Non-Banking Finance Company (NBFC) for its financial services business in India," the company said in a release issued here.

Siemens Financial Services (SFSPL), the NBFC, will focus on developing an asset financing business by offering products such as loans, leasing and other finance products to its customers in India in the industry, energy and healthcare sectors.

It will also pursue opportunities in other third party markets, the release added.

"With the non-banking finance company licence, we will be able to offer a range of value-added financing solutions to Siemens customers, as well as working with third party vendors and business customers on a direct basis," Siemens Financial Services Commercial Finance Asia Pacific's Chief Executive Axel Scholz said.