Indel Money to have pan-India presence

KOCHI: Indel Money Pvt. Ltd. , the NBFC with strong presence in Kerala and Tamil Nadu, plans to increase its visibility by rolling out 700 branches across the country in the next five years.

The company’s main focus areas include gold loans, personal loans, vehicle finance and business loans. CMD Mohanan Gopalakrishnan said the company will steadily increase its presence in South India in the next three years. Indel at present has 71 branches in Kerala and 29 in Tamil Nadu. Its 100th branch was opened in Kottayam district.

He said the company offers many cross-selling products like money transfer, payment of utility bills, prepaid mobile recharge and DTH. ``We want to develop the segment as a major revenue earner by associating with multiple insurance companies and multiple service providers,’’ he said..

The company was incorporated in 1986 in Mumbai and is a wholly owned subsidiary of Indel Corporation Pvt. Ltd. which has investments in hospitality and automotive sectors.