Home / Knowledge / News / Textiles / RCF ties up with Snapdeal for commercial finance biz
RCF ties up with Snapdeal for commercial finance biz
19
Jan '16
Reliance Commercial Finance (RCF) has tied up with e-retail major Snapdeal for supply chain financing for e-commerce vendors. The company is also in talks with various other leading e-commerce players including Flipkart and Amazon, according to an agency report.

A part of the Anil Ambani-led Reliance Group's financial services arm Reliance Capital, RCF will offer supply chain financing to a select set of over 80,000 Snapdeal vendors across the county in teh first phase.

"We have launched a new e-commerce centric supply chain financing product that will help us offer customized options to these vendors. Increasingly we will tie up with prominent e-commerce players to offer this to their vendors," RCF's CEO K V Srinivasan said.

RCF is looking to further expand its e-commerce supply chain financing portfolio and has begun discussions with Amazon and Flipkart as also various other e-commerce firms.

Srinivasan said e-commerce companies manage thousands of vendors across categories and roughly five per cent of these vendors have strong credentials and are eligible for offering financing options.

"This provides a huge opportunity for the lending firms. We see this portfolio growing. Our average financing has been to the tune of Rs 20 lakh and is based on a rating system developed by the platform itself. This helps us get the best in the lot - limiting our risk and exposure," he added.

RCF currently has a Rs 1,000 crore book from supply chain financing and expects to grow this portfolio to Rs 1,500 crore by the end of the calendar year marking a 50 per cent jump.

The company expects over 10 per cent of its total supply chain portfolio to come from supply chain financing for e-commerce vendors by the end of this year. (SH)

Fibre2Fashion News Desk - India


Must ReadView All

GST Council allows ITC refund to fabrics

Textiles | On 23rd Jul 2018

GST Council allows ITC refund to fabrics

The Goods and Services Tax (GST) Council at its 28th meeting held...

GST slashed on Chenille fabrics, knitted cap to 5%

Textiles | On 23rd Jul 2018

GST slashed on Chenille fabrics, knitted cap to 5%

The Goods and Services Tax (GST) on Chenille fabrics and other...

Courtesy: Pixabay

Textiles | On 23rd Jul 2018

Pakistan's textile exports up 8.67% in 2017-18

The value of textile and garment exports from Pakistan increased by...

Interviews View All

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Gagan Gulati

PG Silk Mills Private Limited had a humble start with a hand-dyeing unit....

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


July 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search