Indel Money Opens 9 branches in Thrissur and Palakkad; Targets 100 branches in 2013

Kochi, February 5, 2013: Mumbai-based Indel Money, an NBFC promoted by a group of NRIs including international bankers and finance professionals in 2002, announced its decision to begin its operations in Kerala by opening nine branches in the districts of Thrissur and Palakkad. As per the RBI guidelines, Indel Money will focus its activities on gold loans, vehicle loans, SME loans and instant money transfers.

Addressing a media conference here today, Mr. Mohanan G., Chairman & Managing Director of Indel Money, said the nine branches are in Varadiyam, Thrikkur, Ponnukkara, Kuttoor and Kondazhi in Thrissur district and in Thenkurissi, Vadavannur, Karapotta and Nhangattiri in Palakkad district. "In 2013, we are planning to open at least 100 branches all over Kerala," announced Mr. Mohanan.

Mr. Ramesh T., the Executive Director of Indel Money, said the company's mission is to maximize value to all its customers, staff, the regulators and the community at large by adopting best practices and continually striving for excellence. "So that we can be the most passionately referred service provider in the world of financial services," he added.

The media conference has also been attended by the company's director Mr. Umesh Mohanan and non-executive directors Mr. Anantharaman T. R. and Unnikrishnan Venugopal.

The company's CMD, Mr. Mohanan G. is an experienced ex-international banker while another director Mr. Umesh Mohanan, an experienced investment professional, is currently the CFO of  US$ 5-billion Delma Emirates Group headquartered in Abu Dhabi, UAE, having its presence across the globe throughout the whole of GCC, East Europe, East Africa, Indian subcontinent and Far East with activities spanning from infrastructure construction, banking, defense equipment contracting, security surveillance, equipment trading, manufacturing and investment banking. More than 20% of the group’s turnover is contributed by its UAE business.

Mr. Ramesh T., Indel Money's Executive Director, is a seasoned management professional having more than 20 years' hands-on experience in NBFC sector. Presently pursuing a doctoral programme with IIM, Bangalore, Mr. Ramesh is also dealt with international banking operations, regulatory frameworks of RBI, money transfer, inward remittance business, international financial products and foreign exchange of various international companies.

Mr. Anantharaman.T.R., one of the non-executive directors of the company, is a fellow member of the Institute of Chartered Accountants of India, having 15 years of professional services with 12 partners and 7 offices throughout India while Mr. Unnikrishnan Venugopalan, another of the directors, is a lawyer and company secretary by profession. Formerly working as Legal Representative and Company Secretary of an MNC with more than nine years of professional experience in the industry, he is also the founder of U.V. & Associates, a consultancy firm offering services in corporate law and other legal matters.

For more details, please visit: www.indelmoney.comin Thenkurissi, Vadavannur, Karapotta and Nhangattiri in Palakkad district. "In 2013, we are planning to open at least 100 branches all over Kerala," announced Mr. Mohanan.

Mr. Ramesh T., the Executive Director of Indel Money, said the company's mission is to maximize value to all its customers, staff, the regulators and the community at large by adopting best practices and continually striving for excellence. "So that we can be the most passionately referred service provider in the world of financial services," he added.

The media conference has also been attended by the company's director Mr. Umesh Mohanan and non-executive directors Mr. Anantharaman T. R. and Unnikrishnan Venugopal.

The company's CMD, Mr. Mohanan G. is an experienced ex-international banker while another director Mr. Umesh Mohanan, an experienced investment professional, is currently the CFO of  US$ 5-billion Delma Emirates Group headquartered in Abu Dhabi, UAE, having its presence across the globe throughout the whole of GCC, East Europe, East Africa, Indian subcontinent and Far East with activities spanning from infrastructure construction, banking, defense equipment contracting, security surveillance, equipment trading, manufacturing and investment banking. More than 20% of the group’s turnover is contributed by its UAE business.

Mr. Ramesh T., Indel Money's Executive Director, is a seasoned management professional having more than 20 years' hands-on experience in NBFC sector. Presently pursuing a doctoral programme with IIM, Bangalore, Mr. Ramesh is also dealt with international banking operations, regulatory frameworks of RBI, money transfer, inward remittance business, international financial products and foreign exchange of various international companies.

Mr. Anantharaman.T.R., one of the non-executive directors of the company, is a fellow member of the Institute of Chartered Accountants of India, having 15 years of professional services with 12 partners and 7 offices throughout India while Mr. Unnikrishnan Venugopalan, another of the directors, is a lawyer and company secretary by profession. Formerly working as Legal Representative and Company Secretary of an MNC with more than nine years of professional experience in the industry, he is also the founder of U.V. & Associates, a consultancy firm offering services in corporate law and other legal matters.

For more details, please visit: www.indelmoney.com