New Delhi, Aug 19: Tourism Finance Corporation of India (TFCI), a non-banking finance company, on Monday announced its diversification into retail lending through FinTech platforms and its plans to establish an Alternative Investment Fund.
“Partnering with FinTech companies to diversify in retail lending allows TFCI to tap vast credit opportunities in household and micro-small enterprises market segments, particularly the younger generation who expect quicker loan approvals and prefer the convenience of a digital lending platform. The digital lending business will bolster the company and its balance sheet,” a statement said.
In the first quarter of FY25, TFCI raised Rs 50.02 crore through a preferential issue of equity shares at an issue price of Rs 225 per share. With capital adequacy of about 58 per cent, TFCI has enough headroom to expand the wholesale & retail loan book aggressively.
Anoop Bali, Managing Director of TFCI, said, “this strategic move reaffirms our commitment to our long-term growth strategy. By deciding to tap into the fast-growing short-term retail lending through digital technology and to sponsor an Alternative Investment Fund, we are diversifying our offerings to add more sectors, driving our next growth phase.”
TFCI provides finance through term loans and investment in debentures to the tourism/hospitality sector, social-infrastructure sector (with an emphasis on healthcare & educational institutions, green energy, warehousing & logistics), manufacturing sector and real-estate sector. (PTI)
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