The Best Mortgage Loans
Loans News | Home Loans | Insurance | Credit Cards | Mortgage Loans | Banking | Investment | Pension | Property | Endowment | Business | About Us | Contact Us | Site Map | Home


Search



Categories

Latest News

Blogroll





AIG to set up Rs 220-cr arm here

AIG group is expanding its operations in India by entering asset management and consumer finance activities. The US-based financial powerhouse, which has been primarily engaged in insurance here, is investing Rs 220 crore to set up a wholly-owned subsidiary, which would route its investments in asset management and consumer finance. AIG Capital India (AIGCI) would be a subsidiary of AIG Capital Corporation, the holding arm of AIG Group that has direct and indirect exposures in companies, which are in the business of asset management, consumer finance and other non-banking finance activities. The new subsidiary will operate through downstream subsidiaries. It would also utilise any surplus capital and cash, which is not invested in its subsidiaries for investments in Indian companies engaged in NBFC activities.
Initially, the subsidiary will be incorporated with an investment of $7.5m or Rs 33 crore.The remaining amount will be invested in the next two years.The US financial major is looking to enter consumer financing for durables, personal loans, auto loans, mortgage loans, credit cards and other activities.

Posted in Uncategorized, auto loan, loan, personal loan, mortgage loan, loan calculator, loan rate, credit card consolidation loan | Comments(0) July 2007