The publicly listed company, with a loan book of ₹12,500 crore as of September 2024, lowered its lending rates for the third time this fiscal in December, by 25 bps to 23.05% for group loans and by 125 bps to 22.70% for third-party product loans.
This has crimped its margins to 13.24%. Earlier in January 2024, it had slashed the interest rate by 55 bps and then in July by 35 bps.
Sadaf Sayeed, chief executive of Muthoot Microfin, said that this steep rate reduction will crimp its margins but chose to pass on the benefits of cheaper funds to borrowers because with increased market borrowings our cost of funds has come down to 10.3% now.
Esta historia es de la edición January 06, 2025 de The New Indian Express Kalaburagi.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición January 06, 2025 de The New Indian Express Kalaburagi.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
Clash in B.Com, other exam dates confuses students
Rani Channamma University asks students to choose any one examination at the moment and attend others after three months
B'gavi statue row: KRV to file case against MLA
Karnataka Rakshana Vedike (KRV) has decided to get a police case registered against Belagavi South MLA Abhay Patil for inviting a guest from Maharashtra to unveil the Chatrapathi Sambhaji Maharaj in Angol and cooperating him to raise anti-Karnataka slogan in Belagavi,\" said Belagavi district president of KRV, Deepak Gudaganatti.
₹100 cr grant for Yellamma temple devpt
THE Centre has released Rs 100 crore for the development of the Yellamma temple of Saudatti, a noted pilgrimage centre of North Karnataka, under the Development of Iconic Tourist Centres to Global Scale, a scheme of the Ministry of Tourism to develop tourism infrastructure and promote lesser-visited sites.
Ambedkar row: Forum demands resignation of Shah
MEMBERS of the National Federation of India Women (NFIW) submitted a memorandum addressed to Prime Minister Narendra Modi, demanding the resignation of Union Home Minister Amit Shah, in Belagavi on Tuesday.
Inspired by Gukesh, U-K ZP creates Chess Park for budding talents
TO promote the game of chess among the local people, the Uttara Kannada Zilla Panchayat has come out with a first-of-its-kind Chess Park in Chittakula, a rural area near Karwar, where budding talent can be nurtured.
CM: Focused campaign to eliminate preventable maternal deaths soon
CHIEF Minister Siddaramaiah on Tuesday said that his government will soon launch a focused campaign to eliminate preventable maternal deaths.
ED raids BBMP offices, grills chief engineer
Sleuths of the Enforcement Directorate (ED) conducted search and seizure operations at the head office of Bruhat Bengaluru Mahanagara Palike (BBMP) and its four zonal offices on Tuesday in connection with the alleged Rs 970-crore scam in drilling borewells and installation of RO plants in the city.
AAP vs BJP Battle as Delhi Goes to Poll
Election on February 5, result on February 8; Kejriwal fights anti-incumbency for third term
Congress Set for Big-Ticket Shake-up
STUNG by the electoral setbacks in the assembly elections, the Congress is set for a major organisational shake-up in the coming months.
Don't Stress Out to Avoid Rapid Ageing, Comorbidities
FOR six months, Akshay (name changed), an expat in Dubai, had been experiencing abdominal bloating sensation, pain in the abdomen, and constipation.
