Indel Money, a leading gold loan Non-Banking Finance Company (NBFC), announced its foray into Rajasthan with the opening of its first branch in Fatehpur along with Jhunjhunu
station road and Nawalgarh. The Fatehpur branch was inaugurated by Mr Mohanan Gopalkrishnan, the company’s Chairman. The company will open a branch in Churu in coming days.
With a strong commitment to financial inclusion, especially in the rural and semi-urban markets, this expansion marks a significant milestone in Indel Money’s journey in providing quick and hassle-free credit solutions in every part of the country.
The company has major plans to add 20 branches in the state in near future. The decision to establish a branch network in Rajasthan is largely driven by the state’s robust industrial and economic growth, vibrant small business ecosystem, and growing demand for quick and hassle-free credit solutions. Operating with a nation-wide presence of 340 branches, the expansion in Rajasthan is part of an ambitious project to make its presence felt in the country’s unexplored and unbanked regions.
Currently, the NBFC has an AUM of Rs.2000 crore. As of September this fiscal year (Q2FY25), the company has disbursed Rs. 5000crore as gold-backed loans.
Speaking on the occasion, Mr Umesh Mohanan, ED & CEO, Indel Money said: “Rajasthan is an emerging hub of entrepreneurial activities. The state ranks first in the production of coarse cereals, oilseeds, and rapeseed. It is the largest producer of blended fabric and wool in India. The state is the second-largest producer of spices, fennel, garlic, coriander and cumin. It also has the highest reserve of marble, sandstone and granite resources. Traditionally, a sizeable section of people is into business and trading. In addition, they have a rich culture of investing in gold assets/ jewellery/ ornaments, which
offers great potential for our business. We see tremendous opportunities in serving the financial needs and credit demands of individuals as well as small businesses/ artisans/ MSMEs in the state. By offering safe, quick and affordable gold loans, we aim to encourage local communities to unlock their potential, foster economic growth and promote entrepreneurship.”
Indel Money has been at the forefront of serving people with innovative gold loan solutions, catering to their diverse financial needs. With the Rajasthan expansion, the NBFC reinforces its position as a trusted financial partner for millions of customers across the country.