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ED & CEO Umesh Mohanan in an interview with Navabharat

“We are witnessing more and more demand from MSMEs and women entrepreneurs,” says ED& CEO Umesh Mohanan in an interview with Navabharat.

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Gold loan NBFCs expect RBI’s 25 bps repo rate cut to lift gold loan demand, business sentiment

The 25 basis points repo rate cut by the Reserve Bank of India will lift gold loan demand as there will be an overall improvement in liquidity, business sentiment, credit availability, and economic activity, said gold loan NBFCs like Manappuram Finance, Indel Money, and Muthoot Finance. Gold loans remain a major source of short-term funding for many small businesses across the country.

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Building Homes, Empowering Lives: Indel Money Cares join hands with Smart Palakkad Foundation.

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.

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Gold loan NBFCs seek priority sector status, UPI credit integration in Budget 2024

Gold 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.

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Outlook on the gold loan sector in 2025

Falling 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

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Proper regulatory framework needed for organised gold lending to take off: Indel Money CEO

Even 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.

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Akshaya Tritiya 2024: Planning To Buy Gold? Here Are Expert Insights You Must Consider Before Making Investment- Check Details

This year, Akshaya Tritiya falls on May 10, 2024. This marks the third day of the bright half of the Hindu month of Vaishakha.

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Proactively engaging with regulators, says Indel Money CEO; IPO likely in 2027

The 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.

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Indel Money gets licence for forex business

Can undertake conversion of foreign currency notes, travel money cards, and outward remittances

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Prevailing tight credit situation has been a major catalyst for gold loan growth: Umesh Mohanan, CEO, Indel Money

In 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.

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