Comments
Hedge Finance, a financial house in Kerala, has forayed into non-banking financial activities.
The company, which has acquired NBFC status, would primarily focus on securities rather than concentrating on gold loans as practised by the majority of NBFCs, Mr Alex K. Babu, Managing Director, Hedge Finance, said at a press meet.
The company plans to adopt the LAS (loans against security) model, which is relatively under-tapped. The main focus would be on providing loans to customers against financial instruments such as equities, bonds and debentures, he said.
However, the company will also provide gold loans, other types of conventional hire purchase and loans against properties. It will also lend against warehouse receipts as an organic extension of the services of Hedge Commodities, a group company with membership in MCX, NCDX and NMC.
The company will also spearhead the group’s nationwide expansion as it plans to open branches across all the metros, he added.
The group has roped in Mr P. R. Shankaranarayanan as Executive Director. He was the first Managing Director of FedFin, the NBFC promoted by Federal Bank.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.