Capri Global forays into gold loan biz

Jaipur: Diversified Non-Banking Financial Company (NBFC), Capri Global Capital Ltd (CGCL) focussed on MSME credit and housing finance entered the gold loan business with more than 100 branches.
The NBFC has launched 41 such branches across Rajasthan, followed by Madhya Pradesh, Delhi-NCR, Haryana, Gujarat, Uttar Pradesh, and Maharashtra. Rajesh Sharma, managing director, CGCL, said, “The company aims to operate 200 gold loan branches with an AI-powered security vaults by first half of FY23 in northern and western India.”
Sharma said the company is bullish on small towns and cities of the north and western part of the country. “We vision to build a gold loan book size of Rs 8,000 crore and expand our network with 1500 branch locations over the next five years,” said Sharma.