<article><a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Anshu+Jain">Anshu Jain</a>, former co-chief executive of Deutsche Bank AG, is looking to float a <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=NBFC">non-banking finance company (NBFC)</a> in India, according to three executives familiar with the plans.</article>

<a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Anshu+Jain">Anshu Jain</a>, former co-chief executive of Deutsche Bank AG, is looking to float a <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=NBFC">non-banking finance company (NBFC)</a> in India, according to three executives familiar with the plans.
On Tuesday, The Economic Times reported that Jain, together with former colleague Bhupinder Singh, was entering the NBFC segment. Bhupinder Singh was Deutsche Bank’s co-head of corporate banking and securities for Asia Pacific and left the bank in 2015.
The plans have been in the works for some time now and the platform has started to look at hiring for the proposed venture, said the first person quoted above. The second person quoted above confirmed that the duo were in the market to hire people.
They are looking at businesses such as <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=SME">small and medium enterprise (SME)</a> lending and online lending, said the second person.
“They’d been talking to mid and small level employees from banks and NBFCs for the last 4-5 months. The entry barrier in SME lending is low, it is largely under-penetrated and the government is supportive of it, which is why a new businessman might want to look at it,” said the third person quoted above.
Mint could not contact Jain or Singh for comments at the time of filing the copy.
The NBFC segment has seen a pick-up in interest as some of these entities have greater flexibility in expanding into new segments when compared to banks. In addition, as banks, saddled with bad loans, have retreated from certain segments of the market, NBFCs have found room to step in. On Tuesday, Mint reported that a handful of NBFCs are expanding into the working capital loan market, which has been traditionally dominated by banks.
In addition, segments like online SME lending and structured lending are areas where NBFCs have become active. The Reserve Bank of India has also floated a discussion paper on peer-to-peer lending and proposes to allow these lenders to register as NBFCs.
Jain’s NBFC may be modelled along the lines of US-based SoFi, The Economic Times reported. Social Finance, Inc. is a marketplace lender that provides student loan refinancing, mortgages and other types of loans through an online platform.
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<h4 style="text-align: justify;">This story was first published on <a href="http://www.livemint.com">livemint.com</a></h4>

Anshu Jain and his former colleague Bhupinder Singh are looking at businesses such as SME lending and online lending

Former Deutsche Bank CEO Anshu Jain looks to float NBFC in India

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