HCIN is a non-banking financial company, part of the EURO 27 bn PPF group. HCIN is in the business of providing consumer finance for purchase of two-wheelers, consumer durables including mobile phones as well as personal needs. Presently HCIN is working with more than seven lakh customers in more than thirty cities in India.
Invest India Support
In line with the 2016-17 finance budget proposals, HCIN reached out to Invest India to get NBFCs included in the guideline for the investment basket of foreign portfolio investors. Invest India requested RBI to open up the draft guidelines for public review. Invest India requested HCIN to send a feedback on the RBI guidelines and was considered for the same. PPF Bank is setting up a wholly owned subsidiary bank branch in India. Invest India is currently working with RBI for PPF Bank's approval.