Reliance Capital’s subsidiary -- Reliance Commercial Finance is entering into the Rs 20,000-crore used-car finance market. With this, the company, which has been largely focussing on SME lending across sectors, would be shifting its focus to the consumer finance sector.
With focus on the motor finance sector, the company is planning to be amongst the top three players in this space and is aiming Rs 7,500 crore in the next three years, as the segment is growing at 20 per cent year-on-year on the back of more consumers looking to buy used-cars.
Reliance Capital, a part of the Reliance Group, is one of India’s leading private sector financial services companies. It ranks amongst the top private sector financial services and banking groups, in terms of net worth.
