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Inditrade plans to foray into housing finance segment

Press Trust of India  |  New Delhi 

Financial Services firm plans to foray into housing segment with focus on promoting

"We have applied for licence. The applications (are filed) with the regulator and we are awaiting approval," Inditrade Group of said.

Housing business will be operated through a separate and aims to sanction Rs 40 crore in the first year of its operation, he said.

To further cater to small businesses, he said, the company will soon foray into merchant cash advances (MCA) to help small businesses to meet their working capital requirement.

Many small business are still out of bounds of formal credit, he said, adding that this space is available to NBFCs (companies).

"There are many small business which do not get loans from banks and NBFCs so we are launching product for these entities later this month," he said.

All the necessary approvals are in place for the roll out of the MCA business, he added.

Inditrade forayed into micro-business last year. Its business has touched hundreds of customers across all major commodity centres in the country.

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

First Published: Wed, May 16 2018. 16:35 IST