RattanIndia Finance bets big on MSME growth

RattanIndia Finance, a joint venture between Rajiv Rattan and US-based private equity, Loan Star funds has launched MSME loans to facilitate easier credit access to MSMEs. The company plans to cater the MSME segment with its retail lending offering which is powered by a newly developed technology platform and backed by strong data analytics to provide customers with an easy and seamless experience.

MSMEs can avail a range of financial solutions vis-a-vis access to business loans, working capital, invoicing and supply chain financing which will help them accelerate their growth. RattanIndia Finance aims to build USD 1 billion loan book in three years and has already built Rs 1200 crore loan book across corporate, retail & SME segment. The company had launched its unsecured and secured loan offering for SME customers late last calendar year.

"MSMEs play a crucial role in the economic and social development of the country. Our key objective at RattanIndia Finance is to empower MSMEs to realize their full potential by helping them with their credit needs. We are greatly looking forward to filling a vast gap in credit availability and simplify borrowing experience in this sector", said Rajiv Rattan, Chairman & CEO, RattanIndia Finance.

"2019-2020 will be our key period of growth when we plan to scale-up our business and establish our position amongst the top 10 NBFCs in the products that we operate. Launch of MSME Loans is in line with our business expansion plan and supplements the product suite of SME secured and unsecured loans", explained Amit Mande, Head-Retail & SME, RattanIndia Finance.

RattanIndia Finance retail lending business currently offers personal loans, SME Secured and unsecured loans and loan against property to salaried and self-employed customers. It plans to add more products to the consumer and SME space during the year.