CreditAccess eyes secured loans segment

2 min read . Updated: 10 Nov 2022, 12:35 AM IST Shayan Ghosh

CreditAccess Grameen is already running pilots in all branches on loan against property (LAP), which is part of the mortgage segment that also comprises home loans.

CreditAccess Grameen plans to raise up to ₹500 crore through a public issue of secured, redeemable, non-convertible debentures of the face value of ₹1,000 each

Mumbai: Microlender CreditAccess Grameen plans to foray into secured lending segments like mortgages, gold loans and two-wheeler loans, in an attempt to diversify its product base, Udaya Kumar Hebbar, managing director and chief executive said on Wednesday.

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“We do secured loans but it is very small. Maybe, in five years, we may be doing ₹5,000-6,000 crore of non-microfinance loans and a majority of this will be secured loans," said Hebbar.

ABOUT THE AUTHOR

Shayan Ghosh

Shayan Ghosh is a national writer at Mint reporting on traditional banks and shadow banks. He has over a decade of experience in financial journalism. Based in Mint’s Mumbai bureau since 2018, he tracks interest rate movements and its impact on companies and the broader economy. His interests also include the distressed debt market, especially as India’s bankruptcy law attempts recoveries of billions worth of toxic assets.