By Accommodation Times Bureau
Intend to promote affordable housing, the Inditrade Capital a Financial Services firm proposes to enter into housing finance segment.
Sudip Bandyopadhyay, Chairman, Inditrade Group of Companies said, “We have applied for the licence. The applications are filed with the regulator National Housing Bank and we are awaiting approval.”
Chairman said the company aims to sanction Rs 40 crore in the first year of its operation and housing finance business will be run via a separate subsidiary, he added.
The firm will soon enter into merchant cash advances (MCA) to help small businesses to reach their working capital need, he said.
The Chairman said, “We are launching products for small business which do not get the loan from banks and NBFCs this month.”
He also said that to start MCA business all the required approvals are in place.
Inditrade Capital Ltd formerly known as JRG Securities Ltd. is one of India’s leading financial services providers with strong presence in South India. It was incorporated in 1994 and over the years it acquired a name of trust through Equity and Commodity Broking businesses.