Adani Group has committed initial capital of Rs 500 crore to its lending arm Adani Capital. The Gujarat-based conglomerate is looking to expand financial services business at a time when burgeoning bad loans have made state-run banks picky in bankrolling projects.
Privately funded by the promoter group, the company has started full-fledged operations with 200 employees in 19 branches spread across Gujarat and Maharashtra. These branches are in rural and semi-urban locations such as Himmatnagar, Mehsana, Kolhapur and Nashik.
“Our aim is to provide customised solutions to entrepreneurs, be it a farmer or a small businessman, by leveraging technology,” Gaurav Gupta, chief executive at Adani Capital, told ET.
“Entrepreneurs are the backbone of the economic growth and they are our target customers markets. We find a void in the existing scheme of things, which would be a customised solution for entrepreneurs.” Read More
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