Chandigarh : The MSME credit access in India is only 14%, whereas it stands at 72% in the U.S. and between 40-50% in other countries. Hence, expanding credit by empowering MSMEs is crucial. This was stated by Rajat Chopra, Founder and CEO of BankersClub, during a press conference here today.
He provided insights into the innovative FinTech platform, BankersClub, explaining how they are working to bring a transformation in the financial advisory field with the help of experienced bankers.
He shared plans to expand into northern Indian states and central regions like Chandigarh, Punjab, Haryana, Himachal Pradesh, and Jammu & Kashmir, with the leadership of the organization’s first co-partner, Rajiv Puri, a seasoned banking expert and former Executive Director of the Central Bank of India. BankersClub is strengthening its regional efforts with a goal of engaging more than 1, 000 bankers in these regions. Under its expansion plans, the organization has opened a new branch office in Chandigarh, located in Sector 17. The operations for this region will be run from this office. Through the assistance of qualified former bankers, the company will offer numerous strategic corporate financial advisory services and solutions to small businesses, MSMEs, and startups.
Rajiv Puri brings deep experience in the banking sector, having held significant positions in PNB and Central Bank. He will now contribute his expertise to BankersClub. Born in Punjab, Puri has a strong local network and deep understanding of northern India’s market. He will drive growth in markets like Chandigarh, Punjab, Haryana, and Himachal.
The new office in Chandigarh will strengthen the growing network in northern India, ensuring smooth operations. With Rajiv Puri’s leadership and broad network, we are now well-positioned in this emerging business hub and will directly engage with local corporates, MSMEs, and the startup ecosystem.
Rajiv Puri, Director and Co-Partner at BankersClub, expressed his excitement at being part of BankersClub’s mission to bridge the gap between experienced banking professionals and growing businesses in India. He stated that with the Chandigarh office, they will be able to provide customized financial advisory services and strengthen their ties with industries in northern India. Leveraging decades of banking experience, they will help businesses seize growth opportunities, improve their financial standing, and face financial challenges more effectively. As a co-partner, Puri is eager to advance this mission and contribute to BankersClub's expansion across the country.
Rajat Chopra emphasized that capital availability for enterprises can only be provided by expanding into Tier-II and Tier-III cities, where there is a lack of awareness about funding opportunities, transaction flow, and available financial facilities. At BankersClub, the aim is to act as a catalyst in bridging the gap between capital providers and those in need of capital in smaller cities.
BankersClub offers services in debt and equity fundraising, debt restructuring, international expansion, NPA resolution, mergers and acquisitions, MSME advisory, regulatory compliance, and more. It contributes not only to financing but also to the broader economic development in the region. The platform’s goal of reutilizing human capital aligns with the "Make in India" initiative, aiming to boost GDP through the expertise of Indian advisors for corporates in both domestic and international markets.
The startup plans to engage over 1, 000 bankers on its platform by March 2025, incorporating retired bankers from across India. The platform is rapidly expanding and is establishing its presence in key business centers, offering its services to MSMEs and the corporate ecosystem.