Inditrade Microfin sees loan book growing to Rs 150 cr

Agri-commodity financier Inditrade Capital that forayed into microfinance via its arm Inditrade Microfinance last month expects loan book size to go up to Rs 150 cr by the end of 2017-18 on the back of higher footprint.
"We are growing out business steadily and expects the outstanding loans to increase to Rs 150 crore by the end March 2017 as there is enough demand in the country," Sudip Bandyopadhyay, Group Chairman of Inditrade (JRG) Group of Companies, told PTI.
Inditrade Microfinance started operations last month from Solapur in Maharashtra with four branches to cater to the financing needs of semi-urban industrial workers.

The company intends to expand its presence in Coimbatore by September and Rajasthan by December-end.
There are significant opportunities in semi-urban areas of industrialised states for a focused microfinance player, he said.
Bandyopadhyay claimed that the company offers loans at very competitive rates and provides easy and quick access.
"With the country already moving towards becoming a digitised economy, we plan to leverage technology in fulfilling our aim of reaching our customers and catering to their requirement for finance in the most effective and convenient manner," he added.
He also held that this is the first time in the industry that a completely digitised loan disbursement and collection process will be implemented, including client prospecting, eKYC, tracking GPS locations, credit check, decision to disburse loan and money transfer to bank accounts.