Leading name in gold jewellery business, Chemmanur International Jewellers has made an entry into the non banking finance segment. The NBFC formed by them has been coined as Chemmanur Credits and Investments Ltd.

The company has set a target of opening as many as 5000 branches all over the country by the year 2020.

It presently has 12 branches, fully operational, in Kerala. The number of branches aimed for Kerala is 200.

According to CMD of the NBFC, Mr Bobby Chemmanur has said that they plan to open 500 branches in Andhra Pradesh, Karnataka and Tamil Nadu.

It plans to start a scheme called Chemmanur Bhadram. It would be a gold savings scheme mainly catering to the fact that the customer needs to hedge himself from the upward moving prices of gold.