Jaipur, Aug 23 (PTI) Non-banking financial company Capri Loans on Tuesday commenced operations of its gold loan business by opening more than 100 branches, including 41 in Rajasthan.

A company official said that branches that started operations are in Madhya Pradesh, Delhi-NCR, Haryana, Gujarat, Uttar Pradesh, and Maharashtra, apart from Rajasthan.

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“The company aims to operate 200 gold loan branches with an AI-powered security vault by next month in Northern and Western India,” Ravish Gupta, Business Head – Gold Loan, Capri Global Capital said.

“Rajasthan is one of the focus states for us and based on the performance of our existing business, we have started 41 branches. We are going to increase our footprint in Rajasthan and other markets,” he said.

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These branches will offer gold loans for tenures from 6 to 12 months with multiple repayment options. The company will provide loans up to 75 per cent of the total pledged gold at a competitive interest rate, he said.

The company offers financial services to the unbanked and underserved masses across India, particularly in the Northern and Western regions through a network of branches spread across 12 states and UTs.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)