Rapid Investments Ltd Company Summary

Rapid Investments Limited was incorporated on February 2, 1978 as a Limited Company. The Company also was registered as a Non-Banking Finance Company under the Reserve Bank of India on 25 May, 1998. The Company is engaged into the Business of extending loans and advances to borrowers on applicable interest rates.The Company is a leading player in Mortgage Loans since 2017-18 primarily in the unserved and unreached Semi urban & rural markets.

Presently, it is operating in State of Rajasthan, having over 10 branches and has chalked out ambitious branch expansion and loan growth plans in the State. The Reserve Bank Of India vide its order dated 5th July, 2018 cancelled the registration of NBFC under Section 45-IA of the RBI Act, 1934, for non compliance of minimum net owned funds of Rs. 2 Crore.The Company has got the NBFC license revived from the RBI and hence can start doing the NBFC business again.

Also, it has started the financial advisory services and business for mutual investments and loan against property which would help the Company to do better in future. Further, the Company is also in the process to come up with the rights issue of equity shares which will further bring in more capital into the company enabling to boost the current lending business.