Standard Capital Markets Announces Strategic Investment In Paisalo Digital To Promote Financial Inclusion

In order to improve financial inclusion in rural India, Standard Capital Markets Limited (SCML) announced that it has partnered with Paisalo Digital Limited. This investment demonstrates SCML's dedication to upgrading cutting-edge solutions that close the financial gap and foster economic development in rural areas.

With the cooperation of SCML, Paisalo Digital will be able to expand its influence and reach while giving more rural populations access to key financial services. Paisalo Digital will improve its digital platform by utilising SCML's technological and innovative expertise, guaranteeing smooth and effective service delivery. This affiliation may also entail providing more competitive and targeted products, such as flexible lending requirements for applicants.

Mr. Ram Gopal Jindal, MD, Standard Capital Markets Limited said, "We are excited to collaborate with Paisalo Digital Limited in their mission to promote financial inclusion in rural India. This investment aligns with our commitment for financial inclusions that drive positive social and economic change. Together, we will work towards creating a more inclusive and prosperous future for all. This partnership marks a significant milestone in our journey to empower rural India through financial inclusion."

Recently on 02nd July, 2024, the Board of Directors of the company Considered, approved the issuance of secured, unlisted, unrated, redeemable Non-convertible Debentures (NCDs) having a face value of Rs 10,00,000 each, aggregating up to an amount of Rs 4,01,50,00,000/- in one or more
tranches on a private placement basis.

The above-declared instrument has a tenure of 84 months and/or 31st March 2031 whichever is earlier while the coupon rate is 10% calculated on XIRR formula in excel.

Last month Standard Insurance Broking Limited was incorporated as a new wholly-owned subsidiary of the company under Companies Act, 2013 with effect from 19th June, 2024 by SCML. The Subsidiary is incorporated to act as a Direct broker under the Insurance Regulatory and Development Authority of India.

Leading financial company Standard Capital Markets Limited is dedicated to giving its customers cutting-edge services and solutions. Focusing on empowering individuals and companies, the company offers a variety of financing options designed to satisfy a range of needs and is currently managing an AUM of more than Rs 4,000 million. Standard Capital Markets Limited upholds the highest standards of customer care by operating with integrity, transparency, and a customer-centric attitude.