Having witnessed higher delinquencies in the unsecured loan business, lenders are increasingly shifting their focus towards growing their secured loan products such as gold loans, loan against property, loan against shares, among others, senior bankers say.CS Setty, Chairman at State Bank of India (SBI), says the shift from unsecured to secured loan has ‘definitely’ happened, contributed partly because of rising gold prices. “Leaving that aside, there is a shift even in the SME lending from NBFC side. Movin ...

Loan-against-property lender Optimo Capital has raised $17.5 million in a new round of funding led by the startup's founder Prashant Pitti with participation from existing investors Blume Ventures and impact venture capital firm Omnivore. Alongside the equity raise, the non-banking financial company, or NBFC, has also raised just under $12.5 million in debt from IDFC Bank and Axis Bank. With the new round, Optimo's total equity fundraising stands at $27.5 million. The Blume-backed company targets medium a ...