RattanIndia Finance Forays into personal loans

RattanIndia Finance, the flagship financial services arm of RattanIndia Group announced that it is expanding its lending portfolio by venturing into personal loans segment especially for salaried customers.

RattanIndia Finance Ltd., a Consumer Finance company provides retail and corporate loans.

The company will focus on delivering faster and efficient to salaried customers with simple documentation. powered by a newly developed technology platform and backed by strong data analytics to provide customers an easy and seamless experience. It will provide loans up to Rs 25 lakh with quick approval.

The company launched its unsecured and secured loan offering for SME customers late last calendar year. During the year, company’s wholesale lending arm has funded secured, mezzanine and special situations transactions at Opco & Holdco level across sectors including real estate with mid/ large size corporate.

“The disbursement of personal loan has witnessed consistent growth in India for the last 15 years. Also, the advent of credit bureaus has made personal loans more accessible to salaried class as financial institutions are willing to lend more based on individuals’ past credit behaviour.” Said ,Mr. Rajiv Rattan, Chairman & CEO, RattanIndia Finance.

India is home to over 1 billion people and we are greatly looking forward to filling a vast gap in credit availability and penetration. Our key objective at RattanIndia Finance is to empower Indians to fulfill their aspirations and help them with their credit needs. We are building a retail platform which will extend across India. Our team is committed to building an institution that strengthens our communities and enables people and businesses to realize their growth potential.” Said Mr Rattan .

“The company aims to build a loan book worth US $ One billion  in next five years as it has already built Rs 1200 crore loan book across corporate, retail and SME segment” said Mr Rattan.

“We will implement newer model of distribution backed by data analytics and technology to expand our presence in the current market. We plan to be a multi-city franchise within our first year of operations catering to retail and SME segment. The company plans to expand its presence across 12 cities by end of the year 2019 ” added Mr. Amit Mande, Head – Retail & SME, RattanIndia Finance.

RattanIndia Finance was launched at the start of the year post a committed joint investment of Rs. 2,600 crore (USD $400 million) by Rajiv Rattan and affiliates of Lone Star Funds in the NBFC. Mr. Rattan, Chairman of RattanIndia Group and co-founder of the Indiabulls Group was instrumental in the establishment and the overall build-out of Indiabulls Housing Finance, a company that today is one of the largest NBFCs in India by assets. Based on the currently estimated capitalization, RattanIndia Finance will be among top 10 NBFCs in India. Rajiv Rattan and Lone Star own 50% of RattanIndia Finance respectively.

RattanIndia Finance retail lending business currently offers Personal Loans, Business Loans and Loan Against Property to salaried and self-employed customers. It plans to add more products in the consumer and SME space during the year.

About RattanIndia Private Limited

RattanIndia Finance Ltd., a Consumer Finance company provides retail and corporate loans. The company was started in partnership with Lone Star Funds, one of the largest US based private equity group.  The company, a Systemically Important Non-Deposit Taking NBFC (NBFC-NDSI), is among the top NBFCs in India with committed equity capital of Rs. 2600 Crores.

RattanIndia Finance provides Loan Against Property, Business Loans to SMEs and Personal Loans to retail customers. The company also provides big ticket corporate loans and has marquee clients as its customers. For more information about RattanIndia Finance, please visit www.rattanindia.in