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.
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 MoreGold loan lender Indel Money has registered Rs. 21 crore profit in Q1 of FY24, registering a 63 per cent growth compared to the previous quarter of the corresponding fiscal.
Read MoreGold loan non-banking finance company (NBFC) Indel Money has clocked a profit of Rs 21 crore in the first quarter of FY 24, which is quarter on quarter growth of 63%. Operational efficiency and overall resilience in gold demand have driven the NBFC’s performance in the Q1 of FY 24.
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.
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