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Indel Money, a NBFC with major thrust in South India, has opened its 100th branch at Erattupetta in Kottayam district.
The company, which started off with 9 branches at Thrissur in 2013, now has 71 branches in Kerala and 29 in Tamil Nadu.
Mohanan Gopalakrishnan, Chairman & Managing Director, said that the Mumbai-based company plans to steadily increase its presence in South India in the next three years and further to pan-India in the next five years with 700 branches. With a book size of more than ₹50 crore, the company is looking at a turnover of ₹70 crore in the next three years.
Indel Money’s main focus areas include gold loans, personal loans, vehicle finance and business loans. The company also offers many cross-selling products like money transfers, payment of utility bills, etc.
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