Eyeing at crediting MSME sector, TAB Capital sets lending target of Rs 500 cr by 2019
New Delhi, August 17 (KNN) Aiming at extending credit to the Micro, Small and Medium Enterprises (MSMEs) in the country, TAB Capital has announced fresh target of Rs 500 crores as loans over the next two years.
The Pune Based Non-Banking Financial Company (NBFC) Tab Capital informed that so far it has extended loans worth 101 crores already; the organization is aiming to accelerate these figures.
In a press interview, Abhay Bhatuda, Chairperson and Managing Director of TAB Capital said that the organization will focus primarily on the MSMEs, professionals and service sector enterprises over the next two years. The organization will be registering 500 crores as loans by 2019.
In order to meet the set target, the company also announced setting up of new branches with financial experts.
At present the bank operates in Delhi, Bangalore, Chennai and Hyderabad. The company will be opening 10 new branches across in India soon.
TAB Capital, registered with the Reserve Bank of India offers financial assistance to the under-credited MSMEs in the country. Also the company claims that it follows a robust mechanism to extend the loans, taking not more than two days to complete the entire process.