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German digital lender Kreditech gets NBFC license in India

German digital lender Kreditech Holding SSL Gmbh obtained a license from India's central bank to operate as a nonbanking financial company in the country.

The license allows Kreditech India to offer consumer loan products to customers in India through the web and mobile channels, according to an Oct. 12 release.

Ashish Kohli, managing director and CEO of Kreditech India, said the company will be launching its business in India in a phased manner to lay the foundation for its credit and lending business.