Capri Loans commence operations of its gold loan business with 100+ branches

Mr. Rajesh Sharma, Managing Director, Capri Global Capital Ltd. said, "We are excited to take the next journey of tech-advanced gold loan as we foresee immense scope in the gold loan market. The financial distress due to the pandemic has increased demand for credit across low-to-medium income households. Due to the emotional value associated with gold, people pledge their gold as collateral and secure a short-term loan rather than selling it. The trend is evident in the country's rural and semi-urban geographies. 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. 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 crores and expand our network with 1500 branch locations over the next five years".

"At Capri, we continuously evolve to become the tech-led NBFC for new age borrowers. We believe the next phase of fiscal growth disruption can be achieved through credit inclusion. Our innovative products, quality services, and market knowledge will cushion our effort to sustain this idea of inclusion", he added.

Ravish Gupta, Business Head – Gold Loan, Capri Global Capital Ltd. said, "An unorganized sector still dominates the gold loan business in India because of two major concerns of the borrower - security of their asset and lack of trust to pledge the gold to unknown. Capri gold loan branches are equipped with AI-powered security vaults to mitigate their safety concerns for their assets. Additionally, our 100 percent free insurance, equivalent to the pledged value of gold, will make the borrowers worry-free about their asset security. 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 Jewelers. Our competitive interest rate and transparent payment options will safeguard our customers from a cumulative higher rate of interest. Thus, giving us an extra edge in our operational markets. We are confident that our lucrative gold loan product will help us penetrate the northern and western geographies and achieve our business target for the next five years".