The world's largest conglomerate General Electric (GE) has decided to sell the Indian arm of its commercial lending business and two of its top former bosses have tied up to acquire the business.
Pramod Bhasin, former CEO of GE Capital India and Anil Chawla, former head of the company’s commercial business in India, have tied up with Aion Capital, a joint venture between Apollo Global and ICICI Ventures, for the deal.
Speaking to CNBC-TV18 Bhasin says there's never been a better time to invest in India, especially since there is massive room for non-banking finance companies to grow in the country.
GE India's lending and leasing business has a net worth of USD 360 million and he hopes to increase net worth 5-8 times over the next 5 years. Watch video for more...
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