Fincare SFB bets on micro finance, gold loans, eyes 700 branches by March

Bank chief sees rising price of precious metal helping gold loan segment, but is cautious about volatility and possible softening of prices in near future

Among India’s youngest commercial banks, Fincare Small Finance Bank is targetting total branch network of more than 700 by the end of current 2019-20 financial year.

Besides, the Bank, which commenced banking operations in July 2017 after receiving the final license from the RBI in May 2017, is bullish on the gold loans and micro finance segments to drive its future growth.

Currently, the Bank has a branch network of 569, which it expects to breach the 700 mark by March 2020. “We will soon launch new products in the segments of gold loans, micro finance, mortgage and two-wheeler finance to reach