Tata Capital to provide fin services through single window

NEW DELHI: Tata Capital, the non-banking finance arm of the Tata Group, on Wednesday said it will provide the entire financial needs, including auto and home loans, through a single window, a move aimed at scaling up its consumer finance and advisory business (CFAB).

By the end of 2009, the company plans to cover 80 cities across the country through around 120 branches.

"These touch points will offer a diverse mix of retail offerings in the areas of consumer loan products and investment advisory services," Tata Capital Managing Director Praveen Kadle told reporters here.

The retail offerings include home, auto, personal, education loans, loan against property and equity trading.

"The company has created a unique, common sales and service structure which dovetails all consumer finance and advisory products and services into a common branch network," Kadle said.

To meet the needs of branches, it plans to recruit about 600 people taking its headcount to 1,000 by this fiscal end .

He further said there is good demand of auto, housing and personal loans and the company expects robust demand in the third and fourth quarter of this fiscal.

The company also plans to raise Rs 2,100 crore through bond issue by the end of next fiscal, he said.

"By March 2011, the company plans to raise Rs 2,100 crore through issue of Tier II bonds," Kadle said.