Indel Money Inaugurates First Branch in Goa; Five More to Follow
Curchorem: One of India’s fastest-growing gold loan NBFCs, has inaugurated its first Goa branch in Curchorem and the company is planning to open five more branches in various locations in the state in the coming days.The new branch in Goa, a leading tourism destination, is offering its full range of gold loan services, from minimal documentation and instant loan processing to speedy disbursement, digital onboarding, and doorstep services. Further, the NBFC will open more branches in Mapusa, Ponda, Bicholim, Margao and Vasco in the coming days.The move is part of Indel Money’s strategy to strengthen its presence in Western India. The NBFC has recently expanded its footprint with 20 branches in Maharashtra, with plans to increase the network to 33 branches by the end of the year. In Gujarat, the company currently operates 13 branches and aims to expand to 23 branches, while in Rajasthan, it plans to grow from 4 branches to 16 branches. This expansion will further strengthen Indel Money’s presence across key Western markets, including Mumbai, Pune, Nagpur, Ahmedabad, Surat, Rajkot, Jaipur, Jodhpur, and Udaipur.
Commenting on the development, Mr Umesh Mohanan, ED & CEO, Indel Money, said: “Our expansion into Goa marks a key milestone in our growth strategy. Beyond its reputation as a premier global tourism hub, Goa is rapidly emerging as a vibrant, aspirational market powered by a dynamic domestic economy and rising local entrepreneurial ambitions. Establishing a strong presence here allows us to empower local communities with accessible gold loan solutions, while seamlessly tapping into the state’s thriving travel and hospitality ecosystem with our specialized forex services.”Indel Money plans to double its total branch count over the next 18–24 months, with the Western States expected to contribute significantly to its national network. The NBFC’s expansion comes at a time when gold loans are increasingly being viewed as a reliable, short-term credit solution for individuals as well as businesses. The company’s ability to offer regulated, transparent, and hassle-free gold-backed loans stands in good stead to tap into the underpenetrated urban and semi-urban markets of the Western region.
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