Magma Fincorp to give Rs.532 crore in loans in Punjab, Haryana
By IANSMonday, July 5, 2010
KOLKATA - Asset financing company Magma Fincorp Monday said it would disburse Rs.532 crore in retail loans in Punjab and Haryana in the 2010-11 fiscal.
“By penetrating deeper, we will focus on providing asset finance to the economically disenfranchised in the state,” Sanjeev Chandhok, regional sales manager said in a statement.
Construction equipment and tractor finance have been the major growth drivers this year for Magma in Punjab & Haryana. Magma has 11 branch offices in Punjab and five in Haryana.
“We expect to grow our business in the states by over 50 percent in this new financial year. There would be a considerable increase in our manpower requirements,” he said.
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