Mumbai-based Auxilo Finservice Private Ltd, a new NBFC on the block, is all set to begin disbursal of education loans.
“We are now commencing loan disburals from Hyderabad and Mumbai. Before March 31, 2018, we will expand to Bengaluru, Chennai, Delhi and Pune,’’ Neeraj Saxena, Chief Executive Officer, told newspersons here.
In the next three months, Auxilo hopes to disburse ₹50 crore and is targeting to lend ₹350 crore by the end of the next financial year.
During the financial year 2016-17, eduction loans totalling ₹20,000 crore were disbursed by various players, registering an annual growth of 17 per cent, according to Saxena.