Indian Overseas Bank provides Rs 50 crore Term Loan to Akme Fintrade NBFC

Akme Fintrade has successfully secured a sanction for a ₹50 crore term loan from Indian Overseas Bank. This capital injection is designed to strengthen the non-banking financial company’s (NBFC) balance sheet and provide essential financial support for its ongoing lending operations.

Funding and Transaction Details

The transaction is structured as a single tranche of long-term debt acquired from a public sector bank, bringing a total of ₹50,00,00,000 into the company’s reserves. While immediate disclosures omitted specific details regarding interest rates or repayment timelines, the approval highlights enhanced credit accessibility for the firm. Below is a summary of the transaction parameters:

Akme Fintrade (India) Limited (AFIL) is an RBI-registered, public-listed non-banking financial company (NBFC) founded in 1996 and headquartered in Udaipur, Rajasthan.

Core Business: Retail lending focused on rural and semi-urban markets, serving over 200,000 customers.

Footprint: Operates across Rajasthan, Maharashtra, Madhya Pradesh, and Gujarat through physical branches and service points.