Interventions

Magma Fincorp to enter rural home loan segment

Magma Fincorp plans to enter rural home loan segment as well as encouraging its sales force to canvas business
Magma Fincorp to enter rural home loan segment

Magma Fincorp plans to enter rural home loan segment as well as encouraging its sales force to canvas business for the various types of loans it offers.

This approach of the Kolkata-based NBFC is in tune with its emphasis on measures to improve productivity as well as profitability and maintain focus on self-employed customers in semi-urban and rural areas, who are unable to submit requisite documents to access bank loans.

Depending on the outcome of an ongoing pilot project, the foray will be finalised. .

Dhrubashish Bhattacharya, vice-president and national sales head-tractor finance, Magma, said, "Magma Fincorp, focussed on automobile, used vehicle, tractor, home and SME loans, has separate teams now for each product. Since it has embraced technology in a major way – all 2,000 odd sales personnel provided with a Tablet – the strategy to make them push various loans would be rewarding."

 

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