Anson Fincorp Enters into Nidhi Business

KOCHI:
Anson Group companies, established in 2003, which has diversified interests in the Indian financial sector, is now entering the modified, new model lending business by launching a Nidhi company, Anson Fincorp Nidhi Limited,
licenced under the Nidhi Rules 2014.
The new company can accept deposits and disburse secured loans and will operate under the supervision of the
Reserve Bank of India. Nidhi Companies have been created to cultivate the habit of thrift and savings among its members and are allowed to borrow from its members and lend to its members. Nidhi companies are small when compared to their counterparts in the conventional banking business and are mainly used to cultivate savings
habit among a group of people.
Rules allow Nidhi companies to operate out of a single branch for the first year and as per the rule, the first Anson Fincorp Nidhi Limited will operate out of  Anson Fincorp Nidhi Limited plans to open 15 branches across Kerala by 2017. The branches will be opened in areas where there is little or no access to banking and other financial products.
Anson Fincorp Nidhi Limited targets to lend Rs. 100 million in the first year using its current employee strength of 150 and existing infrastructure. Government of India is earnestly promoting NBFCs and Nidhi companies to
reach out to the remote areas, where people have no access to easy credit and to inculcate the habit of saving among the underprivileged.
Anson Fincorp Private Ltd is well-known among the NBFCs in Kerala. The group, from a humble beginning in 2003 at Nedumkandom in the agricultural district of Idukki, has come a long way and now is a deep- rooted, trusted and flourishing financial enterprise. What makes the company stand out among its peers is the strong loyalty of the middleclass who rely on Anson for financial assistance in their hour of need.
Today, Anson Fincorp is a leading player in providing gold loan in the remote areas in the State. The company also disburses personal and business loans to eligible customers and has over INR 150 million in assets under management. Anson groups business foray in to the financial sector have helped thousands of small family businesses to develop the habit of savings and to financially secure their business and dependents.
The promoters of Anson Group companies are Regi Jacob, Antony K. T., Sony Mathew, Sils Karingattil and Joby Goerge, who have diversified experience in financial services, jewellery business and plantation.
Anson Fincorp Nidhi Limited has charted out plans for the next five years and targets to increase its turnover to Rs. 650 crore by 2021 from the present Rs. 150 crore, said Jacob. Anson Group enjoys the patronage of over 50,000 satisfied customers through its 15 branches in Kerala and Tamil Nadu. The shareholders of
the company are equally satisfied since they get significant returns on their investment.
“Our lenient terms and conditions, capable staff, modern infrastructure and humane dealings elevate the company to greater heights year after year” said Sony Mathew , Director.