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Indel Money registers 127% rise in Q2 profitability - The Hindu BusinessLine

Indel Money registers 127% rise in Q2 profitability - The Hindu BusinessLine
thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.

Umesh mohananIndel moneyExecutive director

Indel Money news: Indel Money s net profit rises 127% in Q2FY24, revenue up 61%

Gold loan non-banking finance company Indel Money has witnessed a rise of 127.21% in its net profit in the second quarter of FY24 to 18.91 crore from Rs 8.32 crore in the corresponding period of FY23. The revenue for the quarter rose by 61.09% to Rs. 77.03 crore as compared to the same period in the previous year.

Umesh mohananIndel moneyExecutive directorNon convertible debenturesIndel money newsGold loan

We will tailor our gold loans to suit regional needs, sensibilities

We will tailor our gold loans to suit regional needs, sensibilities
thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.

Madhya pradeshUmesh mohananIndel moneyExecutive directorWest bengal

Need for cold cash: Gold loans surge ahead of festive season; rising gold prices & lower interest rates add to charm

India Business News: Gold loan companies are experiencing a surge in demand from semiurban and rural areas as the festive season approaches. The recent increase in gold pr

Umesh mohananMuthoot fincorpThomas john muthootRohan junejaWest asiaJohn muthootManaging directorExecutive directorIndel moneyGold loan interest rateReserve bankBuying tipsSovereign gold bonds vsFederal bankTru cap financeBusiness news

Rush for gold cash amid need for cold cash

Data from the Reserve Bank of India (RBI) show outstanding gold loans at Rs 95,476 crore as on July 28, up 23.1% from a year earlier, a sharp acceleration from the single-digit growth in the preceding 12 months. Earlier this month, RBI doubled the limit on gold loans under the bullet repayment scheme — from Rs 2 lakh to Rs 4 lakh — for urban cooperative banks, subject to conditions. Central bank data show India owns more than 27,000 tonnes or 14% of the worlds gold, of which around 5,300 tonnes is pledged.

West bengalThomas john muthootRohan junejaUmesh mohananMuthoot fincorpWest asiaReserve bankTru cap financeGold cashGold loan companiesFederal bank