Manappuram General Fin gold loan biz crosses Rs 6,000 cr
MUMBAI: Manappuram General Finance and Leasing Ltd has reported that its gold loan business has crossed the Rs 6,000-crore mark.
The company’s total gold loan outstanding as on December 5 stood at Rs 6,003 crore compared with Rs 2,556 crore that prevailed on March 31, 2010, a press release issued here today stated.
The company has also increased its nationwide branch network to 1,641 with the addition of 636 new branches during the current financial year.
Recently, Crisil has enhanced the P1+ credit rating limit of the company to cover its short-term borrowings up to Rs 2,000 crore.
Earlier in July, Crisil assigned its highest rating of P1+ for the company’s short-term borrowings programme up to Rs 1,000 crore. — PTI
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