In response to the Union Budget 2026, Indel Money Executive Director and CEO Umesh Mohanan highlighted the positive implications for India’s financial and credit ecosystem. The Budget, presented on February 1, 2026, emphasised long-term strength in banking and financial systems rather than short-term measures. Finance Minister Nirmala Sitharaman’s proposal to form a High-Level Committee on Banking for Viksit Bharat aims to enhance credit access across sectors, including banking, NBFCs and MSMEs — a step Mohanan described as significant for meeting broader financing needs.
Umesh Mohanan, Executive Director and CEO of Indel Money, said the move could address longstanding funding challenges. “On the banking and finance front, the constitution of a High-level Committee on Banking for Viksit Bharat is a notable step that will address the credit-financing requirements of banking, NBFC and MSME sectors. For the MSMEs, the trade receivables are now being treated as asset-backed securities, which will help them address their credit requirements,” he said.
Mohanan noted that treating trade receivables as asset-backed securities can help MSMEs meet credit requirements more efficiently, supporting growth and liquidity. He also pointed out the Budget’s clear focus on NBFC reforms, technology adoption and credit disbursement targets, which are expected to make credit flow smoother for borrowers who rely on non-bank financial institutions.
According to the article, these measures are designed to strengthen the foundations of India’s credit delivery system while maintaining financial stability, which could enhance access to formal credit for businesses and retail borrowers alike.
Indel Money has strengthened its growth strategy by securing ₹100 crore (approximately $11 million) in debt funding from Kotak Credit Opportunities Fund. The funding was raised through non-convertible debentures (NCDs) with a tenure of 4.5 years, reflecting strong institutional confidence in the company’s business model, governance, and expansion plans.
According to Indel Money Executive Director and CEO Umesh Mohanan, the partnership supports the company’s focus on scaling its lending operations and strengthening its position in the organised gold loan sector. The capital will be used primarily for onward lending, helping expand credit access to customers across India.
Indel Money continues to record steady business growth. The company reported a 10% year-on-year rise in net profit to ₹61 crore in FY25, supported by strong loan demand. Assets under management grew 52% year-on-year to ₹2,400 crore, while total disbursements reached approximately ₹6,000 crore during the same period. The company expects disbursements to reach ₹10,000 crore in FY26, with AUM projected to grow to ₹4,000 crore.
Gold loans currently account for nearly 94% of Indel Money’s portfolio, with additional lending support extended to small and medium businesses. Operating across more than 370 branches in 15 states, the company continues to focus on responsible lending, financial inclusion, and customer-focused credit solutions.
Indel Money Executive Director and CEO Umesh Mohanan recently shared insights on the changing role of gold in India during an episode of Simple Hai!, hosted by Vivek Law. The discussion focused on how gold in India is moving beyond tradition and emotion to become a practical financial tool that supports liquidity and inclusion.
India holds nearly 25,000 tonnes of household gold, much of which remains idle. Mohanan explained that global factors such as US economic trends, geopolitical tensions, central bank policies, and rising global debt now influence gold prices more than seasonal domestic demand. These factors have strengthened gold’s position as a stable asset in uncertain times.
He highlighted that only about 15% of household gold enters the gold loan pledge market, and a majority of this is still handled by unregulated moneylenders. Indel Money aims to change this by expanding regulated gold lending in Tier 2 to Tier 5 cities, helping households access safe credit while improving transparency and local economic activity.
Mohanan also spoke about how gold loans have shifted from being a distress option to a lifestyle finance solution used for education, business needs, agriculture, and home improvements. With longer loan tenures, customer education, and strong governance, Indel Money has built a model focused on trust, repayment discipline, and long-term relationships.
The conversation highlighted how structured gold loans are strengthening financial resilience across India.
