Piramal Retail Finance has entered the consumer and used car finance business. Now you can avail finance from the company to buy an old car.
Second Hand Car
If you are planning to buy a second hand car, then there is a relief news for you. Now loan seekers need not go anywhere for second hand car. For this, Piramal Retail Finance (Piramal Retail Finance), the finance company of Piramal Group, has now started retail lending. That is, Piramal Retail Finance will now give you a loan to buy a used car.
According to Piramal Retail Finance CEO Jairam Sreedharan, the company has entered the consumer and used car finance business. You can avail finance from the company to buy an old car. The company will complete this work for Cars24. Along with this, Piramal Retail Finance has a tie-up with ZestMoney. The special thing is that the company will provide loans to the customers wanting to buy the car as well as to the buyers of the two-wheeler.
Company will add 4 new loan segments in 1 year
According to Jairam Sreedharan, the company is planning to add 4 new loan segments to its portfolio in the next 12 months. Along with this, the company is also planning to give education loans to customers, loans against shares (LAS) and unsecured loans for small businesses. Not only this, the company is also planning to give jobs to 1000 people in the financial year 2021-22 to implement its plan and during this time people will be given jobs in the sales, technology and underwriting sectors.
The acquisition of DHFL will increase the loan book
According to the Piramal Group, there have been indications that the Reserve Bank of India has approved its resolution proposal for the DHFL, which is facing debt crisis, which the Committee of Lenders (CoC) has already approved. Has given The CoC approved the solution plan of Piramal Capital and Housing Finance Ltd, a Piramal Group company last month. Piramal Group said in a statement, “We understand that the RBI has approved the DHFL solution plan of Piramal Capital and Housing Finance.”
With this, the Piramal Group has completed all the preparations for the acquisition of DHFL, for which just some regulatory approval is being awaited. After the acquisition of DHFL, the loan book of Piramal Group will increase by 40 per cent. At present, the total loan book of Piramal Group is Rs 45,000 crore.
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