Hyderabad , May 14 (GCBusiness) RattanIndia Finance, a joint venture between Rajiv Rattan and US based Private Equity, Loan Star Funds has expanded into small biz finance with launch of Micro, Small and Medium Enterprises (MSME) loans to facilitate easier credit access to small businesses in the country.
The company having presence in Mumbai, Delhi, Bangalore and Pune plans to increase presence in 12 other cities including Hyderabad, Chennai, Jaipur, Ahmedabad, Surat, and Chandigarh , a company statement here said on Tuesday.
“Keeping in line with the Government of India’s endeavor to bolster the growth and performance of MSMEs in India, the Company plans to cater the MSME segment with its retail lending offering which is powered by a newly developed technology platform and backed by strong data analytics to provide customers with an easy and seamless experience, starting April 2019” said Mr Rajiv Rattan, Chairman & CEO, RattanIndia Finance.
“RattanIndia Finance aims to build USD 1 billion loan book in next five years and has already built Rs 1200 crore loan book across Corporate, Retail & SME segment. The company had launched its unsecured and secured loan offering for SME customers late in last calendar year. “ he added.
RattanIndia Finance retail lending business currently offers Personal Loans, SME Secured and Unsecured Loans and Loan Against Property to salaried and self-employed customers. It plans to add more products in the consumer and SME space during the year, the statement added.