In a significant commitment to giving back to the community, Indel Money has pledged to build 20 homes called ‘SMILE Homes’ for the homeless in Palakkad, Kerala, through its ‘Indel Cares’ CSR initiative. This initiative was formally announced at a press conference attended by distinguished guests, including Chairman Mohanan Sir, ED & CEO Umesh Sir, and Palakkad MLA Rahul Mamkootathil.
Read MoreGold loan non-banking finance companies (NBFCs) have sought priority sector status from the government and to make them part of the UPI-based credit offerings as they possess a lot of customer data that can be used to determine the creditworthiness of applicants in the Union Budget that will be tabled on February 1.
Read MoreFalling interest rates will bring cheer to individuals, businesses as well as capital markets as their borrowing cost and interest burden will ease substantially. Credit availability will also increase due to which economic activity may gain strong momentum. Consequently. consumption (rural as well as urban) will start picking up. Thus, the much-awaited monetary easing is likely to stimulate credit growth and enhance credit availability. Certainly, an overall momentum in credit growth will support gold-backed lending
Read MoreEven as the gold market booms and fintech penetration in the non-banking financial company (NBFC) sector increases, NBFCs face their fair share of challenges in terms of regulations and market turbulence.
Read MoreThis year, Akshaya Tritiya falls on May 10, 2024. This marks the third day of the bright half of the Hindu month of Vaishakha.
Read MoreThe CEO told that the company is closing this quarter (Q4FY24) at Rs 1600 crores of AUM with revenue around Rs 200 crores and profitability around Rs 50 crores. ‘We are confident of achieving this on account of continuing credit squeeze, high cost of retail credit and the record gold prices,’ he said. Mohanan also said the company is planning to go public by 2027.
Read MoreCan undertake conversion of foreign currency notes, travel money cards, and outward remittances
Read MoreIn an interview with ET, Umesh Mohanan, executive director & CEO of Indel Money, a non-banking finance company in the gold loan sector, talks about how the gold loan business is performing in Q2 of the current fiscal and the company’s plan to expand amongst intense competition in the gold loan sector.
Read MoreGold loan is the safest and fastest way for women to get loans for personal reasons or business purposes.
Read MoreIn a traditional Indian household, gold is treated with more of aesthetic value than a safe haven asset. But now, the scenario is slowly changing. Even in rural households, the precious metal has gained the status of a hybrid asset class that can be leveraged in a financial emergency. This shift in outlook has happened over a period of time. Consequently, the gold loan industry is also booming in tandem with the rising demand for gold monetization.
Read More
