Indel Money, a leading Non-Banking Finance Company (NBFC) specializing in gold loans, has launched a strategic expansion into the Andaman Islands with the inauguration of six new branches. These branches, situated at Garacharama, Junglighat, Wimberligunj, Haddo, Aberdeen Bazaar, and Protharapur, mark Indel Money’s entry into the region, aiming to meet the rising demand for financial services.
The inauguration ceremony was graced by Mr. Mohanan Gopalakrishnan, Chairman of Indel Money, underscoring the company’s commitment to enhancing financial accessibility in underserved areas. Mr. Umesh Mohanan, Executive Director and CEO, emphasized the significance of this move, stating, “The Andaman Islands are witnessing rapid economic growth, especially in tourism. However, there is a critical need for accessible credit facilities, which traditional lenders struggle to provide adequately.”Indel Money’s expansion into the Andaman Islands aligns with its mission to promote financial inclusion across diverse regions. With an extensive network already spanning Gujarat, Maharashtra, Kerala, and now Andaman Islands, Indel Money plans further expansion into Rajasthan and West Bengal in the near future.
The introduction of Indel Money’s branches is expected to significantly boost the financial infrastructure in Port Blair. It will facilitate easier access to credit for local businesses and individuals, stimulating economic activities and fostering growth in the region.Established as part of Indel Corporation, founded by Late Mr. Palliyil Janardhanan Nair, Indel Money is renowned for its robust portfolio in gold loans and other financial products.
