author of the article Deal for Loan

He said the company has prepared a strategic plan to move completely away from unsecured loans.

“In 2008, nearly 28% of our unsecured loans. Currently, only about 1%,” Srinivasan.

Reliance Lending Commercial Finance has more than doubled in the last three years. The total turnover of the company’s lending was Rs.7, 120 crore in March 2008. It rose to Rs.15, 035 crore by the end of the quarter to 30 September 2011.

Srinivasan said the change in the company’s strategy to move completely out of the unsecured loan is not due to any guidelines for the Reserve Bank of India (RBI) or the global economic and financial crisis.

“We have changed the lending philosophy. It is not because of any instructions from RBI or the state of the global economy,” he said.

Reliance Commercial Finance began operations in 2007. It is a replacement of the Bombay exchange of Reliance Capital.

Srinivasan said that just four years the company has more than Rs.30, 000 crore loan, of which nearly half has already been paid extended. “This is a very good industry standards.”

The company reduced gross investment in non-performing assets (NPA) by 1.3% in September 2011 at 3.6% in March 2010. NPAs of the company’s secured lending is 1.1%.

said the company is targeting a further reduction of the NPA, said Srinivasan: “That’s all well and good in a global scale, and we want him there.”

Most financial institutions, including major lenders such as State Bank of India (SBI) fighting resources and improve the NPA, or bad debts. “Our goal is the best and most profitable provider of asset-backed financing of up to 2013″

, he said.

Srinivasan who is at the head of Reliance Financial Services and Commercial Register Reliance Home Finance since 2007, said the company aims to almost 20% growth in lending and close to 15% increase in profit for the current fiscal year.

“Our income increased by about 15% in the first half of the fiscal year, when credit growth was 20%, roughly in the industry. We are nearly identical to the growth in the second half,” he said.

Reliance Commercial Finance unit Anil Ambani led Reliance Group aims to fully come out of the unsecured business in the current fiscal year by asset quality and profitability improve.

“Our strategy is completely away from unsecured loans segment. At the moment we have about Rs.166 crore of unsecured loans have in our book. By the end of the current fiscal year is that it removes” said KV Srinivasan, CEO of Reliance and Reliance Commercial Finance mortgage .

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