Capri Global enters in to gold loan business

Author: Nishu February 21, 2022 Capri Global enters in to gold loan business

Capri Global Capital Limited (CGCL), a non-deposit taking and systemically important NBFC (NBFC-ND-SI), has announced plans to enter the gold loan business.

The company will start this business in the first half of the financial year 2022-23 and aims to build a gold loan book size of ₹8,000 crore. It also plans to expand its network with 1,500 branch locations in the next five years. Rajesh Sharma, MD, Capri Global Capital Limited said, “This is in line with our long-term expansion strategy.

We see immense potential in the gold loan market as the financial crisis due to the pandemic has increased the demand for loans among low- to middle-income households.” “Due to the sentiment value attached to gold, people pledge their gold as collateral and secure short-term loans instead of selling it.

This trend is very evident in rural and semi-urban areas of the country. Increased rural presence With CGCL, CGCL is poised to serve customers and drive financial inclusion within communities,” he said. The company has appointed Ravish Gupta to head the business vertical.

21 February, 2022, 11:08 pm

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