Saturday, Apr 20 2024 | Time 07:06 Hrs(IST)
image
Business EconomyPosted at: Mar 22 2023 2:49PM


Moneyboxx crosses Rs 300 cr AUM, loan book swells

New Delhi, Mar 22 (UNI) Non-banking financial company Moneyboxx on Wednesday said that its assets under management (AUM) has now crossed Rs 300 crore while loan book is swelling to Rs 500 crore.
The company in an official statement noted that strong business growth and productivity led to robust growth in AUM to Rs 308 crore as of March 20, 2023, growing by 155 pc compared to Rs 121 crore as of March 2022.
AUM refers to the total market value of assets being managed by a financial institution.
Moneyboxx said that it is in the process of raising equity in March 2023 and is supported by 24 lenders including leading banks, NBFCs, impact funds, and additionally has co-lending and business corresponding partnerships in place with lenders.
"With the aim of driving financial inclusion in rural India, we aim to reach AUM of about Rs 1,000 crore and 100 branches by FY24 with growing and continuous support from our lenders, co-lending and BC (business correspondent) partnerships, and planned capital raise.”
Moneyboxx provides business loans to micro entrepreneurs in small towns and rural areas.
UNI NK RKM
Please log in to get detailed story.
Tags: #Moneyboxx crosses Rs 300 cr AUM# loan book swells
More News

"CSIR-IICT and BHEL partners to advance clean fuel technology: MoU signed on CO2 to DME"

19 Apr 2024 | 7:23 PM

Hyderabad, April 19 (UNI) The Council of Scientific and Industrial Research-Indian Institute of Chemical Technology (CSIR-IICT) and Bharat Heavy Electricals Limited (BHEL) Corporate R&D have forged a partnership to develop technology for capturing and converting carbon dioxide (CO2) to Dimethyl Ether (DME) through direct catalytic conversion.

see more..

Amara Raja Infra Wins Greenko’s 700MWp solar project in AP

19 Apr 2024 | 6:41 PM

Hyderabad, Apr 19 (UNI) Amara Raja Infra Private Limited (ARIPL), part of the $1.75 billion Amara Raja Group, on Friday announced it has secured a solar BoS (Balance of System) project of 500MW/700MWp from Greenko.

see more..
Sensex recovers 600 points on heavy buying on last day of week

Sensex recovers 600 points on heavy buying on last day of week

19 Apr 2024 | 5:34 PM

Mumbai, April 19 (UNI) Snapping a losing streak of last four sessions, the BSE Sensex on Friday bounced back 599.34 points to close at 73088.33 on expectation of minimal escalation of tension between Israel and Iran.

see more..

19 Apr 2024 | 5:24 PM

Mumbai, Apr 19 (UNI) IT major Wipro on Friday reported 7.80% year-on-year dip in consolidated net profit at Rs 2,834.6 crore for January-March quarter (Q4) of the financial year 2023-24.

see more..
Rupee up 8 paise against USD

Rupee up 8 paise against USD

19 Apr 2024 | 5:05 PM

Mumbai, April 19 (UNI) The Rupee on Friday ended positive at 83.47, rising 8 paise against the USD on selling US Dollar by bankers and exporters, dealers at the Foreign exchange said.

see more..
image