Pothashang News Service: Imphal, March 13, 2018: Panthoibi Nidhi Limited (PNL), a subsidiary of Panthoibi group of companies has got Non-Banking Financial Companies (NBFC) licence, which is the first time for a public (community) limited finance company of Many.
Managing director, PHFCL Th. Hemo Singh made it known in a press conference held at his office Uripok Tourangbam Leikai, Imphal on Monday.
The licence is issued by apex regulatory body of ministry of corporate affairs Government of India that operates under the direction of Reserve Bank of India. “This licence can be applied only when the company have the liability of bringing welfare to the public”, said the MD.
Under PNL the company will provide gold loan, mortgage loan (Loan against property), loan against fixed deposit and deposit scheme such as fixed deposit, recurring deposit and monthly income scheme, said Hemo.
PNL is the second finance company after Panthoibi Housing Finance Company Limited (PHFCL). Other companies that established under Panthoibi Group are Panthoibi Finance and Panthoibi Construction. The group of company is planning to open its branches in entire states of India, added Hemo.
He said PHFCL is the first housing finance company in the entire north east India that obtained licence issued by National Housing Bank in 2009.