Indel Money Executive Director and CEO Umesh Mohanan shared his views on the Union Budget FY27, highlighting its strong focus on foreign investment, financial stability, and long-term economic growth. According to him, the Budget is timely, especially in the context of rupee depreciation, slowing exports, and global trade pressures.
He noted that the government’s efforts to attract foreign capital are visible through tax exemptions for NRIs and Overseas Citizens, along with simplified FEMA rules. The Budget also aims to bring investments from large global corporations by offering customs duty exemptions across key sectors such as aviation components, nuclear power projects, lithium-ion batteries, critical minerals, solar equipment, and electronics manufacturing. These sectors are expected to play a major role in India’s medium-term growth.
On the banking and finance side, Mohanan welcomed the formation of a High-Level Committee on Banking for Viksit Bharat, which is expected to strengthen credit flow to banks, NBFCs, and MSMEs. Treating MSME trade receivables as asset-backed securities is seen as a positive step in easing credit access.
He also highlighted the government’s fiscal discipline, with a reduced fiscal deficit and increased public capital expenditure, which could encourage private investment. The simplified tax regime, support for data centres, bond market reforms, and rationalisation of MAT and STT were described as measures that support compliance, capital markets, and job creation.
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.
