In a bid to offer gold loans to customers without bank account, Manappuram Finance is planning to launch co-branded debit card. The non banking finance company is in talks with a few banks to launch the co-branded cards scheme.
The Kerala-based diversified NBFC had reported a net profit of 30 percent at Rs 353.36 crore for fiscal 2015-16. As part of its diversification plans, the company also plans to raise the business coming from non-gold segment to about 20-25 percent in next two years.