Last May, Sachin Bansal-led Navi saw its best laid plans upended when the Reserve Bank of India—India’s central bank—rejected its application for a commercial banking licence. Without this licence, Navi’s ambition of providing a tech-first, mass market banking solution was effectively a non-starter.
Flipkart co-founder Bansal, however, has refused to allow this setback to bog Navi down. The firm is scaling up its loan book aggressively. Unlike in previous years, though, when its growth was driven by massive marketing and management costs, Navi is now laser focused on creating a profitable business.
While the MFI business continues to be profitable, the personal loan business turned loss-making in the year ended March 2022, owing to large expenses incurred for marketing and promotional activities.
This is a premium article and available only to subscribers.
Exclusive access to this article for 1 year.
What you get
Premium In-Depth Stories
5 articles every week
Archives
>3 years of archives
Newsletter
5 every week
Gifting Credit
5 premium articles every month
Visual Infographics
1 every week
Sessions
3 screens Concurrently
Upgrade how you think, work, and win — Freedom Sale is on!
Have a coupon code?
Access unlimited content at a special discounted rate. Trusted by top VC’s and leading organizations, we provide bulk subscriptions for groups of 30+. Contact us for more details
Top educational institutions have collaborated with us for campus-wide subscriptions. For bulk campus-wide access, please get in touch.
Join our community of 100,000+ top executives, VCs, entrepreneurs, and brightest student minds
Convinced that The Captable stories and insights
will give you the edge?
Convinced that The Captable stories
and insights will give you the edge?
Subscribe Now
Sign Up Now