L&T Finance Enters Gold Loan Market with Paul Merchants Acquisition; Poonawalla Fincorp Unveils Instant MSME Loans

L&T Finance Ltd completes its acquisition of Paul Merchants Finance, marking its venture into gold loan finance. The acquisition includes 130 branches and a gold loan book of Rs 1,350 crore. Meanwhile, Poonawalla Fincorp launches a fully digital business loan solution for MSMEs, offering instant approval and flexible options.

In a significant move, L&T Finance Ltd has successfully completed the acquisition of the gold loan business of Paul Merchants Finance Pvt Ltd, solidifying its entry into the gold loan sector.

The acquisition brings L&T Finance 130 branches and about 700 employees, along with a robust gold loan book valued at Rs 1,350 crore.

In parallel, Poonawalla Fincorp introduces a trailblazing digital loan solution for MSMEs, offering 24/7 business loans with instant approval, courtesy of a novel risk assessment model, devoid of any physical paperwork.

(With inputs from agencies.)