Magma Fincorp to increase retail loans disbursement by 29%

Asset finance company Magma Fincorp Limited plans to increase disbursement of retail loans by 29 per cent in Rajasthan during the current fiscal. "The company grew 26 per cent in FY13 over FY12 and now we aim a growth of 29 per cent in Rajasthan where we disbursed Rs 736 crore last year," Sanjiv Jha, National Sales Head, Magma, said in Jaipur.

"We will continue with our focus on providing asset refinance to the economically disenfranchised segment and expect to further grow. We will also increase our manpower strength to meet the challenge," he added.  Headquartered in Kolkata, the company has 18 branches in the state, of which 6 have been opened this year.

The company has branches in Ajmer, Bharatpur, Hindaun, Jaipur, Sikar, Alwar, Bikaner, Jodhpur, Udaipur, Bhilwara, Kota and other cities, he informed.