Chennai, July 2024

Indel Money, a leading gold loan Non-Banking Finance Company (NBFC), enters the Andaman Islands by opening six branches, which will provide quick and convenient financial services.

The Six branches located at Garacharama, Junglighat, Wimberligunj, Haddo, Aberdeen Bazaar and Protharapur, were inaugurated by Chairman, Mr Mohanan Gopalakrishnan. 

Commenting on the development, Mr Umesh Mohanan, Executive Director, and CEO, said: “The Andaman Islands region is currently underserved in terms of access to financial services, despite having seen a significant jump in the economic activities, such as tourism. To fully capitalize on this growth, the local population needs convenient and quick access to credit and financial services, which the conventional lenders are inadequately equipped to provide. The Non-Banking Finance Companies (NBFCs) such as Indel Money play a crucial role in bridging this gap, while contributing to the overall development of the local economy. This business expansion further demonstrates our commitment to reaching out to every corner of the country and serving every citizen, in line with our mission to promote financial inclusion and empowerment.”

Indel Money has recently opened its 300th branch in Ahmedabad and it operates a vast network of branches that is spread across Gujarat, Odisha, Maharashtra, Madhya Pradesh, Delhi, UP, Haryana, Karnataka, Tamil Nadu, Andhra Pradesh, Telangana, Puducherry, and Kerala. Shall be adding states like Rajasthan and West Bengal towards the next quarter. The NBFC offers a comprehensive suite of gold loan services to the customers who have diverse financial needs.