InvestorQ : Is it true that Piramal Retail Finance is getting into new areas of financing?
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Is it true that Piramal Retail Finance is getting into new areas of financing?

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2 months ago
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PEL arm, Piramal Retail Finance, decided to diversify into a much broader financing business segment and started off with used-car financing. Over the next 1 year, Piramal Retail Finance will also foray into two-wheeler financing, education loans, small business loans and loan against shares. Many of these will be unsecured products and add to risk.

This was disclosed by their new appointed CEO, Jairam Sridharan, who moved from Axis Bank. Piramal Retail Finance will add 1000 employees to its roles across sales, credit appraisal and technology enhancement. This expansion plan is also in sync with the recent acquisition of Dewan Housing, which Piramal outbid others at the NCLT.

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