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Indel Money enters Odisha with opening of 10 branches



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 at various places in Khurda, Puri, Cuttack, Balasore and Jajpur districts, the branches have been inaugurated by Indel Money Executive Director and CEO Umesh Mohanan, Business Head Jijith Raj, and Zonal Head V. Vijay Kumar.

Indel Money will open 15 more branches shortly in Odisha and the entire expansion drive will generate 150 employments in the state, the company said in a statement.

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.

“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. 

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