L&T Finance Ventures into Gold Loan Market with Rs 537-Crore Acquisition of PMFL
2025-02-07
moneycontrol.com
L&T Finance has entered the gold loan business with the acquisition of PMFL's gold loan portfolio worth Rs 537 crore. This strategic move aims to fill the gap of a secured high-yield product in the company's portfolio, catering to both rural and urban markets. The gold loan business is expected to provide a significant boost to L&T Finance's growth, offering customers a lucrative option to monetize their gold assets. With this acquisition, the company is poised to expand its customer base and increase its market share in the financial services sector, particularly in the gold loan market, which is a high-growth area in India's financial landscape.
