Mangal Credit and Fincorp has made its entry into the loan against gold and diamond jewellery market with the launch of its maiden retail branch in the Mumbai suburbs of Vile Parle followed by the launch of five more outlets in Andheri, Kandivali, Mira Road, Dombivali and Bhandup by March 2021.
The plan to enter the growing gold and diamond jewellery loan business is a natural extension of the company to leverage the promoter’s two decades plus experience in the fine jewellery business as well as the company’s sustained success in providing loans to SME & MSME sectors since 2012. Additionally, the company has brought forward its’ plans to enter the secured loan segment for a year, taking into account of the possible surge in demand for asset-based personal finance in post-COVID recovery phase.
Mangal Credit and Fincorp is engaged in the financing and investment activities in India. It also involves in the production and trade of cranes, hoists, and spares.
Company Name | CMP |
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Chola Invest & Fin. | 1168.85 |
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