JAYABHARAT CREDIT LTD

Originally established as The Jayabharat Insurance Company Limited on March 25th, 1943, Jayabharat Credit Ltd was initially involved in the General Insurance Business. Following the nationalization of the insurance sector in 1969, the company became a subsidiary of The New India Assurance Company, which absorbed its insurance operations. Jayabharat then shifted its focus to become a Non-Banking Finance Company (NBFC), specializing in financing trucks through Hire-Purchase schemes, subsequently expanding into leasing and corporate financing. The company consistently distributed dividends to its shareholders from 1970 to 2008, totaling 34 years of uninterrupted payouts. Initially registered with the RBI as an NBFC accepting deposits, Jayabharat Credit Ltd ceased its NBFC operations on January 13th, 2020. Its primary activities include investment and finance, hire-purchase, and leasing, having also engaged in general insurance until December 1987. Hire-purchase and financing activities commenced in May 1989, with leasing operations beginning in 1981. By 1988, Jayabharat Credit Ltd ceased to be a subsidiary of The New India Assurance Company. In 1990-91, the company adopted its current name from Jayabharat Credit & Investment Company. It obtained registration from SEBI as a Category I Merchant Banker in 1995-96 and received a 'MA' rating from M/s ICRA Ltd in 1996-97, indicating adequate safety in servicing interest and principal. In 1999-2000, Jayabharat Credit Ltd jointly promoted Jayabharat Automobiles Ltd with Motor & General Finance Ltd, with equity participation. As of March 2001, the company's Capital Adequacy Ratio stands at 30.35%, well above the RBI's minimum requirement of 12%.