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RattanIndia Finance adds personal loans to its product suite


Finance, the flagship financial services arm of Group announced the launch of its personal offering for salaried customers. Its offering is powered by a newly developed technology platform and backed by strong data analytics to provide customers with an easy and seamless experience.

The company launched its unsecured and secured loan offering for SME customers late last calendar year. During the year, the company's wholesale lending arm has funded secured, mezzanine and special situations transactions at Opco & Holdco level across sectors including with mid/ large size corporate.

Finance was launched at the start of the year post a committed joint investment of Rs. 2,600 crores (USD $400 million) by and affiliates of in the NBFC. Mr Rattan, of and of the Group was instrumental in the establishment and the overall build-out of Housing Finance, a company that today is one of the largest NBFCs in by assets.

Based on the currently estimated capitalization, RattanIndia Finance will be among the top 10 NBFCs in and Lone Star own 50% of RattanIndia Finance respectively.

"is home to over 1 billion people, and we are greatly looking forward to filling a vast gap in credit availability and penetration. Our key objective at RattanIndia Finance is to empower Indians to fulfil their aspirations and help them with their credit needs. We are building a which will extend across India. Our team is committed to building an institution that strengthens our communities and enables people and businesses to realize their growth potential", said Mr Rajiv Rattan, & CEO,

"We will implement a newer model of distribution backed by data analytics and technology to expand our presence in the current market. We plan to be a multi-city franchise within our first year of operations catering to retail and SME segment," added Mr Amit Mande, Head - Retail & SME, RattanIndia Finance.

RattanIndia Finance currently offers Personal 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.

Key Highlights:

· Aims to build USD 1 bn loan book in 5 years

· Already built Rs. 1200 crore loan book across Corporate, Retail & SME segment

· Launched SME Secured & Unsecured in Q2 FY19

· Personal Loans up to Rs. 25 lakhs with quick approval

This story is provided by BusinessWireIndia.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, March 07 2019. 12:09 IST