The North Eastern Development Finance Corporation Ltd. (NEDFi) and Veefin Solutions have signed a comprehensive, multi-year contract to implement a state-of-the-art digital lending ecosystem for NEDFi, aimed at enhancing credit access across the North Eastern Region of India. The agreement was formalised and disclosed pursuant to Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Partnership Overview

Under the terms of the agreement, Veefin Solutions will deploy a complete suite of cloud-hosted solutions for NEDFi. The platform is designed to automate and scale lending operations, integrating with external systems such as credit bureaus and banking APIs to create a unified financial ecosystem. Key details of the partnership are summarised below:

Digital Solutions Being Deployed

The digital transformation initiative encompasses a Loan Origination System (LOS), Loan Management System (LMS), and Loan Collection System (LCS). The solution will also feature dedicated mobile applications for sales and collection teams, business correspondents, and customers, alongside a specialised customer portal to provide a seamless, end-to-end digital experience for borrowers. Veefin Solutions was selected through an extensive RFP-based selection process, with its suite of solutions found to meet all of NEDFi's digital transformation requirements.

Key Highlights of the Agreement

The agreement covers several critical dimensions of digital lending infrastructure:

Leadership Perspectives

Speaking on the partnership, 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 far-flung 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, noted that Veefin Solutions' deep functional expertise in lending and its robust, industry-standard software would be instrumental in modernising NEDFi's lending processes. "This partnership is a key milestone in our mission to bring advanced financial services to the doorstep of the Northeast," he added.

Raja Debnath, Chairman & Managing Director of Veefin Solutions Ltd., said: "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."

Significance for Northeast India

Northeast India has historically faced challenges in accessing formal financial services due to geographical and infrastructural constraints. NEDFi, the premier development finance institution of North-East India headquartered in Guwahati, Assam, provides financial solutions to MSME enterprises and start-ups across eight northeastern states in sectors including Healthcare, Tourism, Food Processing, Education, IT-enabled services, and core manufacturing. The deployment of this digital lending platform is expected to address longstanding access gaps by enabling faster, more transparent, and accessible credit solutions for borrowers across the region. Veefin Solutions, an enterprise software technology company, builds core financial platforms for banks, NBFCs, and regulated financial institutions, focusing on enabling complex financial workflows across working capital, transaction banking, and lending in multi-party and regulated environments.

Veefin Solutions Limited has disclosed to BSE Limited that arbitration proceedings have been initiated by certain shareholders and promoters of Epikindifi Software and Solutions Private Limited, a subsidiary of Estorifi Solutions Limited and a step-down subsidiary of Veefin Solutions Limited. The disclosure was made on May 04, 2026, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as a voluntary business update. Based on the company's current assessment, the proceedings have no material impact on its business operations.

Background of the Dispute

The arbitration proceedings relate to certain contractual disputes arising under Epikindifi Software and Solutions Private Limited's Shareholders' Agreement dated 13 February 2025. The proceedings have been initiated by certain shareholders and promoters of Epikindifi, which forms part of the Veefin Solutions group structure as a step-down subsidiary.

Key details of the matter are summarised below:

Current Status and Company's Position

As per the disclosure, the matter is at a preliminary stage, currently involving interim relief and the appointment of an arbitrator. No adverse order has been passed to date. Veefin Solutions has stated that it disputes the claims and is actively contesting the proceedings. The company is also taking appropriate actions and other proceedings to protect its rights, and further updates will be provided as required under applicable law.

Regulatory Disclosure

The disclosure was signed by Urja Harsh Thakkar, Company Secretary and Compliance Officer (ACS 42925) of Veefin Solutions Limited, on May 04, 2026. The communication was addressed to the Corporate Relationship Department of BSE Limited in compliance with the applicable regulatory framework.