By 121 Newz
Chandigarh, October 23, 2024:- BankersKlub, an innovative fintech start-up redefining financial advisory with seasoned bankers, announces the expansion of its market presence across northern Indian states and UT, Chandigarh, Punjab, Haryana, Himachal Pradesh, and Jammu & Kashmir. This expansion will be spearheaded by its first Co-Partner, Rajeev Puri, a seasoned banking expert and a former Executive Director (ED) of Central Bank of India.
BankersKlub plans to strengthen its regional footprint significantly with a launch target of onboarding 100+ bankers from this region. As a part of its expansion plans, it establishes a new branch office in Chandigarh, located in the heart of the city in Sector 17. The office is set to become the central hub for the company's operations in this region. The aggregator platform facilitates a wide range of strategic corporate financial advisory services and solutions for small businesses, MSMEs, and startups by connecting them with skilled former bankers.
Rajeev Puri's extensive experience in the banking sector, having held key positions at PNB and Central Bank, adds a wealth of knowledge and expertise to BankersKlub. A son of the soil from Punjab, his local network and deep understanding of the northern Indian market will be instrumental in establishing connections with regional businesses in Chandigarh, Punjab, Haryana, Himachal, and beyond.
Rajat Chopra, Founder and CEO of BankersKlub, said that in India, MSME credit penetration is only 14%, compared to 72% in the US, with other countries falling between 40% to 50%. It's essential that we improve our credit penetration by empowering MSMEs. Access to capital for these enterprises can only be achieved by expanding into tier two and tier three cities, where there is a lack of awareness about funding opportunities, transaction flows, and available financial instruments. We, at BankersKlub, aim to act as a catalyst, bridging the gap between capital providers and seekers, beyond metros. He added that our new office in Chandigarh is a strategic initiative to bolster our growing network in northern India and facilitate smoother operations. Under Rajeev Puri's leadership and extensive network, we now have a strong presence in these thriving business hubs, allowing us to engage directly with local corporates, MSMEs, and startup ecosystem.
Rajeev Puri, Director & Co-Partner, BankersKlub, said that he is excited to be a part of the BankersKlub mission to bridge the gap between seasoned banking professionals and growing businesses across India. The Chandigarh office will be instrumental in strengthening our ties with the industries in the northern region, enabling us to deliver tailored financial advisory services. By leveraging decades of banking experience, we will help businesses unlock growth opportunities, improve financial health, and navigate financial challenges more effectively. As a Co-Partner, he looks forward to driving this mission forward and expanding BankersKlub's impact nationwide.
BankersKlub's services include debt and equity fundraising, debt restructuring, international expansion, NPA resolution, mergers and acquisitions, MSME advisory, regulatory compliance and others. It's not only about financing but also about contributing to the growth of the broader economic landscape in the region. The platform's focus on redeploying human capital aligns with the Make in India initiative, enhancing GDP by tapping into the expertise of Indian advisors for corporates both domestically and globally.
The start-up plans to accelerate onboarding of retired bankers across India, with a goal of adding 1,000+ bankers on its platform by March 2025. The platform is on a rapid expansion drive to further increase its presence in key business hubs, tapping into MSME and corporate ecosystems nationwide.
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