Jain Irrigation gets RBI nod to launch NBFC Jain Irrigation Systems has obtained regulatory approval from RBI to launch the new NBFC. The new joint venture is already incorporated in the name and style of 'Sustainable Agro-commercial Finance' to be commonly recognized by its acronym, SAFL will be a non-deposit taking NBFC.The joint venture is to commence initially with Jain Irrigation, promoter entities and IFC - a member of the World Bank Group- as equity shareholders with some banks and financial institutions joining the equity shareholding, at a later stage. The new NBFC will focus its activities on Farm and Farmer only and operate in the rural & semi urban geographies of India. SAFL's launch will mark a new milestone in the thinly populated space of private sector financing of agriculture.The company made this announcement on 06 July 2012.