Ratan Tata, Nandan Nilekani and Vijay Kelkar have launched Avanti Finance, a startup focused on financial inclusion and delivering affordable and timely credit to under served population.
Avanti Finance will leverage on the social presence of Tata Trusts (Ratan Tata is the chairman) and will also collaborate with India stack, UPI and payment back ecosystem.
Both Ratan Tata and Nandan Nilekani would bring in investments from their respective philanthropic capital, and any gains will be reinvested in philanthropic causes. Avanti Finance will apply for registration to the RBI.
Vijay Kelkar is the Chairman of the National Institute of Public Finance and Policy (NIPFP), and India Development Foundation, New Delhi.