Mumbai, June 9 -- L&T Finance (LTF) announced the completion of the transfer of the gold loan business of Paul Merchants Finance (PMFL), a wholly owned subsidiary of Paul Merchants, to LTF. The acquisition includes PMFL's 130 branches, approximately 700 employees, and business transfer of its gold

loan book size of Rs. 1,350 crore to LTF.

Speaking on this occasion, Sudipta Roy, Managing Director & CEO of LTF said, "We are pleased to announce the completion of PMFL's gold loan business acquisition. In-line with our five-pillar strategy of enhancing customer acquisition, we continuously endeavour to expand our existing product offerings in a synergistic and contiguous manner.

LTF has one of the largest rural franchises of approximately 1...