Siemens's NBFC arm gets RBI registration

German engineering and energy major Siemens has received a certification of registration from the Reserve Bank of India (RBI), which grants it a licence to operate non-baking financial services business in India.

"Siemens has received a certificate of registration from the RBI to operate a non-banking finance company (NBFC) for its financial services business in India," the company said in a release today.

Siemens Financial Services (SFS) plans to focus on asset financing business by offering products such as loans, leasing and other financial products to customers in the industry, energy and healthcare sectors.

While it will primarily drive Siemens' business in India, the company said it would also pursue opportunities in other third party markets.

"With the non-banking finance company licence, we will be able to offer a range of value-added financing solutions to Siemens customers, as well as work with third party vendors and business customers on a direct basis," Axel Scholz, Asia Pacific commercial finance chief executive of Siemens Financial Services, said.

Siemens Financial Services Private Limited (SFSPL) was set up in March, this year to provide financing solutions to Siemens' customers in India, particularly in the healthcare industry and energy sectors.