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Stock Report
NEDFi Partners with Veefin Solutions to Revolutionize Digital Lending Operations in Northeast India
Posted On : 2026-05-13 10:59:08( TIMEZONE : IST )
North Eastern Development Finance Corporation Ltd. (NEDFi) and Veefin Solutions Limited, Mumbai, have recently signed a comprehensive contract to implement a state-of-the-art digital lending ecosystem for NEDFi, which is designed to enhance credit access across the North Eastern Region of India.
Under the terms of this multi-year agreement, Veefin will deploy a complete suite of cloudhosted solutions, including a Loan Origination System (LOS), Loan Management System (LMS), and Loan Collection System (LCS).
The digital transformation will also feature dedicated mobile applications for sales and collection, alongside a specialized customer portal to provide a seamless, end-to-end digital experience for borrowers. The solution will further integrate with various external systems, including credit bureaus and banking APIs, to create a unified and efficient financial ecosystem.
On the occasion, CMD NEDFi Shri PVSLN Murty said: "Once it is fully implemented within the next few months, the new software will help NEDFi reach out to entrepreneurs in farflung areas of the North-Eastern Region by using technology solutions. Especially the small borrowers in unserved and underserved areas will benefit immensely from this new software. Through the Mobile App, new entrepreneurs will be able to apply for loans through mobile devices, while existing customers will be able to see their account-related information on their smartphones. The new software will also enable the Corporation to expand its basket of financial products including working capital revolving loans, etc."
Lemli Loyi, Executive Director of NEDFi, said that Veefin Solutions had been selected through an extensive RFP-based selection process and their LOS, LMS, LCS and mobile app solutions were found to meet all of NEDFi's digital transformation requirements.
"Their deep functional expertise in lending and their robust, industry-standard software will be instrumental in modernizing our lending processes. This partnership is a key milestone in our mission to bring advanced financial services to the doorstep of the Northeast," he said.
Raja Debnath, Chairman & Managing Director of Veefin Solutions Ltd., added: "We are thrilled to be a partner in NEDFi's digital lending journey. This is a very prestigious and strategically important assignment for the Veefin group. We view the Northeast Region as vital in our efforts to help expand access to credit through technology, and we are committed to providing a secure, scalable, and high-performance platform that supports NEDFi's growth for years to come."
Shares of Veefin Solutions Limited was last trading in BSE at Rs. 335.55 as compared to the previous close of Rs. 327.70. The total number of shares traded during the day was 142200 in over 284 trades.
The stock hit an intraday high of Rs. 342.00 and intraday low of 321.55. The net turnover during the day was Rs. 47117250.00.
