Indel Money forays into Odisha with grand opening of 10 branches

Bhubaneswar, Jan 07: Indel Money Limited, the flagship company of Indel Corporation, has opened 10 branches across Odisha to serve the people of the state with its bouquet of gold loan products. Located in Khurda (Lweis Road and Bhubaneswar-Khurda), Puri (Pipli and Nimapada), Cuttack (Link Road, Salipur and Jagatpur), Balasore (FM Golei and Balasore) and Jajpur Town, the branches have been inaugurated by Umesh Mohanan, Executive Director and CEO, Indel Money, Jijith Raj, Business Head, Indel Money and V. Vijay Kumar, Zonal Head, Indel Money. Indel Money will open 15 more branches shortly in Odisha and the entire expansion drive will generate 150 employments in the state. Apart from regular gold loan products, Indel Money will offer its long-term gold loan products such as 1-year and 2-year gold loan schemes. “Our vision is to become a household name among the millions of rural and urban people of the country by providing affordable financial products that help them improve their lifestyles and turn their dreams into reality. Expanding our network in Odisha is a part of our continued focus to cater to the under-served rural and semi-urban regions. By offering long-term gold loans and the convenience of availing gold loans at the doorstep, we wish to make gold loan accessible to the people of Odisha,” said Umesh Mohanan, Executive Director and CEO, Indel Money. Indel Money has more than 200 branches across south India, operating with strong fundamentals and a proactive approach. The company has plans to venture into Maharashtra and West Bengal in Q4 FY21-22 and Gujarat and Rajasthan in FY22-23. The company aims to open more than 405 branches across 11 Indian states by FY24-25.  Indel Money which received NBFC License (regulated by the RBI) in 1986 aims to provide reliable and transparent financial services and to maximize value to its customers, employees, regulators, investors and the society at large.