The Company belongs to the Indel Group, which was founded by Late Mr. Palliyil Janardhanan Nair. The Indel Group entered into the regulated financial services business at a services at a small village in Palakkad, Kerala under state government Money lenders license. Over the years group has diversified its presence from being a financial services company to automobile dealership, hospitality, infrastructure development, media, communication and entertainment. Company believes that the usage of a technology platform across the operations has improved the growth. They launched the applications on google play store and iOS App Store and also launched web based payment portal named-Connection 2019. The web based centralised IT platform records details of all the branches and transactions. They believe that the IT infrastructure helps them with real time data transmission and updates, and endeavour to minimise errors, ensure faster data transmission and risk monitoring. They upload data at each branch to facilitate online information access for faster decision making and reducing the overall turnaround time. The Company launched Indel E-connect, a web-based portal which can be used by customers to manage their accounts, payments and apply for top up loans utilising the Indel E-connect portal. Customers can login to the E-connect portal using their unique customer ID or loan account number and mobile numbers; an OTP based authentication is conducted to verify the customer prior to providing access to the E-connect platform. Additionally, customers can also download the mobile application from both the iOS app store and Google Play Store to manage their accounts and make payments. They have integrated all major payment methods including UPI based payments into the E-connect platform as well the mobile applications to enhance convenience offered to customers and positively impact the customer experience. The issue is rated CRISIL BBB (outlook stable) by CRISIL Ratings Limited. This rating indicates that instruments with this rating are considered to have a moderate degree of safety regarding timely servicing of financial obligations. Such instruments carry moderate credit risk. So we give NEUTRAL rating to this NCD offer.
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