Kuhoo Finance, India’s leading student loan fintech platform, today announced that it has received approval for a Non-Banking Financial Company (NBFC) license from the Reserve Bank of India (RBI). This significant milestone enables Kuhoo to substantially expand its education financing offerings and reach a broader spectrum of students across India. This marks a new era in the company’s mission to enable middle class students to become Aatmanirbhar (self-reliant) and reduce the financial burden on their parents.
The NBFC license empowers Kuhoo Finance to offer loans of up to Rs. 2 Crores for a wide range of courses from management to engineering and medical. Kuhoo Finance will also specialize in offering loans for executive education and upskilling programs. This significant increase in lending capacity will further support students in their journey toward self-reliance.
Prashant A. Bhonsle, Founder and CEO, Kuhoo Finance expressed his enthusiasm about this development, stating, “Securing the NBFC license is a game-changer for Kuhoo and the students we serve. We are now better positioned than ever to fulfill our mission of making quality education accessible to all, regardless of financial constraints. We believe that the right student loan, given at the right time, can transform not just an individual’s life but entire generations to come. Our NBFC status will allow us to play a pivotal role in India’s educational landscape, supporting the dreams and aspirations of countless students who might otherwise be unable to pursue higher education due to financial constraints. This aligns perfectly with our goal of creating an Aatmanirbhar student community that will drive India’s future growth.”
Kuhoo Finance’s unique strength lies in its advanced technology and data science capabilities. The company employs sophisticated risk assessment and credit models to evaluate students’ potential employability and future income prospects. This innovative approach ensures responsible lending practices while offering personalized financial solutions that align with each student’s academic and career goals. It also enables academic institutions to optimize costs and enhance student financing experiences.
With the NBFC license, Kuhoo Finance plans to introduce a suite of new loan products needed by various academic streams. The company also plans to strengthen its partnerships with educational institutions, banks, and other financial entities. Looking ahead, Kuhoo envisions playing a crucial role in supporting India’s growing demand for skilled professionals across various sectors. By providing accessible education financing options to students from diverse socio-economic backgrounds, the company aims to contribute significantly to the development of India’s human capital and economic growth, fostering a generation of self-reliant individuals.
As it enters this new phase, Kuhoo Finance remains steadfast in its goal of becoming one of India’s largest and most trusted student lending institutions. With its innovative approach, cutting-edge technology, and now the NBFC license, Kuhoo is well-positioned to support the aspirations of countless students across the nation, contributing to a brighter, more educated, and self-reliant India.
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