Mahindra Finance will go the partnership route to compete more effectively with banks as rising cost of funds for non-banking financial companies (NBFCs) makes lending in price-sensitive categories challenging, a top company official told Mint.
The rural and semi-urban India-focused Mahindra Finance is keeping a sharp eye on its margins as it looks to building a prolific, diversified financial services business, Raul Rebello, MD & CEO designate told Mint in an exclusive interaction. Rebello will take charge of the NBFC and its subsidiaries from April next year.
Leading NBFCs in the vehicle lending space like Mahindra Finance and Shriram Finance have expressed concerns that rising cost of borrowing from banks is leading to margin pressure in several lending categories for NBFCs.
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