L&T Finance to expand SME finance business

L&T Finance is planning to expand its small and medium-sized enterprises (SME) finance business to over 50 cities in the June quarter.

The SME finance business, which was launched as a pilot in Mumbai and Pune during 2021-22(April-March), has risen steadily in 2022-23, the company said in a press release.

The company plans to expand to 50 cities including Patna, Bhubaneswar, and Visakhapatnam. In addition to this, the company would also be working towards increasing its direct channel offerings – through its direct-to-customer (D2C) application—the PLANET application.

Also read: Senior Citizen Recurring Deposit interest rate jumps near 10% in new rate regime. 5 banks compared

This product from L&T Finance primarily caters to small businesses and practicing professionals like doctors, chartered accountants etc. It disburses loans of up to Rs 50,00,000.

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