The Telegraph
Since 1st March, 1999
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Walter Thompson in Peerless brand blitz

Calcutta, Sept. 23: Peerless General Finance & Investment Company Ltd has appointed J. Walter Thompson, a well-known ad agency, to promote the Peerless brand.

Chairman of Peerless General Finance, D. . Ghosh, said: “We have wiped out our deficits of Rs 1,396 crore. We have also attained a capital adequacy ratio of 14.56 per cent. This was a key compliance with the regulatory requirements as spelt out by the Reserve Bank of India (RBI) in 1996.”

“It is now time for a planned campaign for corporate image and brand-building as well as for rural publicity. We have appointed J. Walter Thompson. The exercise is expected to yield good results,” he added.

Peerless General Finance, the largest residuary non-banking finance company in the country, will soon seek permission from the RBI to enter the insurance sector as a corporate agent to increase its fee-based income.

“We were not allowed by the RBI to work as corporate agent due to prudential norms. Now that we have achieved all the parameters, we are seriously looking at entering the insurance sector,” Ghosh added.

The move is part of the company’s efforts to make its presence felt in urban and metropolitan areas. The company has so far focused on rural and semi-urban areas.

“We intend to provide financial services in keeping with the changing market scenario and increasing consumer demand. We plan to come out with a diverse range of products,” the chairman said. Managing director S. K Roy said the company intends to develop low-cost funding products for sustainability, which should be in sync with falling investment yields.

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