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Swiggy says NOICE financing carries no credit exposure for company or group firms
SIDBI, Axis Bank and InCred will independently fund and assess the loans
MUMBAI: Swiggy is clearing the air on its NOICE financing programme, saying the company will not carry any credit exposure or deploy capital from its own balance sheet under the initiative.
The clarification follows media reports published on 5 October 2026 about Instamart’s NOICE programme, which aims to expand its base of food entrepreneurs and widen its product range.
Swiggy Limited said the financing programme is being facilitated in partnership with financial institutions including Small Industries Development Bank of India (SIDBI), Axis Bank and InCred.
The company stressed that neither Swiggy nor Swiggy Neocap Private Limited will bear any credit exposure linked to the loans and credit facilities extended through the programme.
Instead, the partner financial institutions will provide the funding and extend the loans. They will also independently conduct the required credit assessments and assume the associated credit exposure, Swiggy said.
This means the financing programme does not involve any funding or deployment of capital from the balance sheets of Swiggy or its group companies.
The clarification comes after reports around NOICE’s plans to double its food entrepreneur base and scale its product range to more than 500 offerings. Swiggy’s statement seeks to draw a clear line between facilitating access to financing and directly funding the programme.
With partner institutions taking responsibility for funding, assessment and credit exposure, Swiggy has made it clear that the NOICE financing programme will not add a direct lending burden to its balance sheet.
