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Religare Finvest Ltd (RFL), a subsidiary of Religare Enterprises, is looking to enter the factoring business, its Chief Executive Officer, Mr Kavi Arora, has said.
“We are evaluating this. We are looking to enter domestic factoring and not international factoring”, Mr Arora told Business Line here when asked if RFL will offer factoring products to small and medium enterprises). RFL is a non-banking finance company focused on supporting SMEs.
Parliament had recently enacted a law putting in place a comprehensive legal framework for factoring businesses in India. This law, among other things, exempts factoring transactions from stamp duty, providing a boost to such businesses in the country.
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