 "Nabard, HSBC invest around Rs 80 crore for 10% equity stake in OPL")
OPL, a digital credit infrastructure company, has received funding of about Rs 80 crore from Nabard and HSBC, officials said on Monday.
The funding will be used to drive innovation in digital ecosystems, according to a statement.
The statement didn't specify the funding amount, but officials pegged it at around Rs 80 crore for a 10 per cent stake.
Nabard's chairman K Shaji said the apex institution for rural development is committed to leveraging technology to enhance financial inclusion and promote sustainable growth in rural India.
"This partnership represents a significant step towards achieving our strategic goals," he added.
HSBC's group head for ventures Moran Levinovitz said the investment in OPL is a step forward in its mission to enhance digital lending capabilities in India.
A senior representative from OPL said Nabard's expertise in rural digitisation and HSBC's global financial acumen will help accelerate innovation, enhance credit accessibility, and transform the lending ecosystem.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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