Reserve Bank of India Grants NBFC Licence to Astranova Mobility's Lending Arm NovaFusion Capital

Exam-focused facts from the 16 October 2026 current affairs briefing.

Key facts

NovaFusion Capital, the lending subsidiary of Astranova Mobility, received approval from the Reserve Bank of India (RBI) to operate as a Non-Banking Financial Company (NBFC).
NovaFusion Capital aims to achieve Rs 5,000 crore in assets under management over five years, primarily financing commercial electric vehicles (EVs).
The company's focus is on electric mobility and climate-positive assets.