ENA Knowledge Resource 2022-08-24 09:42:53 <p><span style="font-size:14px"><strong>Mumbai, Aug 24 (KNN)</strong> Capri Loans, NBFC focused on MSME credit and housing finance has commenced operations of its gold loan business with more than 100+ branches.</span></p> <p><span style="font-size:14px">The branches are across Rajasthan Madhya Pradesh, Delhi-NCR, Haryana, Gujarat, Uttar Pradesh, and Maharashtra and will offer gold loans for tenures from 6 to 12 months with multiple repayment options, said a press release.</span></p> <p><span style="font-size:14px"><strong><a href="https://bit.ly/3B9mZSj"><img alt="FOLLOW US on GOOGLE NEWS" src="https://knnindia.co.in//uploads/gallery/GoogleNews.jpg" style="border-style:solid; border-width:1px; height:95px; margin:1px; width:299px" /></a></strong></span></p> <p><span style="font-size:14px">Capri Loans will provide loans up to 75 per cent of the total pledged gold at competitive interest rates.</span></p> <p><span style="font-size:14px">These gold loan branches are equipped with an artificial intelligence-powered security vaults to offer best-in-class safety to the gold ornaments.</span></p> <p><span style="font-size:14px">Expressing excitement to take the next journey of tech-advanced gold loan, Rajesh Sharma, Managing Director, Capri Global Capital Ltd. said, We foresee immense scope in the gold loan market. Through our gold loan product, we aim to empower our customers to take advantage of their secured assets and finance their various needs other than financial emergencies.</span></p> <p><span style="font-size:14px">We are bullish for Tier III, IV, and V cities of the North and West part of the country. We vision to build a gold loan book size of Rs 8,000 crore and expand our network with 1500 branch locations over the next five years, he said.</span></p> <p><span style="font-size:14px">The company aims to operate 200 gold loan branches with an AI-powered security vaults by H1 FY23 in Northern and Western India.</span></p> <p><span style="font-size:14px">The technology implementation across branches will enable Capri Loans to facilitate quick, transparent, and hassle-free gold loan financing.</span></p> <p><span style="font-size:14px">Ravish Gupta, Business Head Gold Loan, Capri Global Capital Ltd. said, Capri gold loan branches are equipped with AI-powered security vaults to mitigate their safety concerns for their assets. Our dedicated relationship manager for each customer will help borrowers have the freedom to discuss transparently and get the desirable advice for which they earlier relied on ancestral money lenders or Jewellers.</span></p> <p><span style="font-size:14px">Gupta said that the NBFC is confident that the lucrative gold loan product will help them penetrate the northern and western geographies and achieve business target for the next five years.</span></p> <p><span style="font-size:14px">Additionally, the company offers complimentary insurance equivalent to the pledged value of gold ornaments. <em><strong>(KNN Bureau)</strong></em></span></p> 30294 https://knnindia.co.in/news/newsdetails/knowledge-resource/msme-focused-capri-loans-starts-gold-loan-business-with-over-100-branches 2022-08-24 09:42:53 knnindia.co.in