The publicly listed company, with a loan book of â¹12,500 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.
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LA28 in mind, ACTC for 4 years; focus on NSF good health
THE flagship annual calendar for training and competition (ACTC) plan for four years, hosting of international competitions and conducting national leagues for player identification and development were some of the talking points of the meeting between the sports minister and the National Sports Federations (NSFs) in New Delhi on Tuesday.
Liverpool seal last-16 berth, Barca post epic win
LIVERPOOL beat Lille 2-1 on Tuesday to maintain their perfect record in this season's Champions League and clinch qualification for the last 16, while Barcelona produced a stunning comeback to beat Benfica 5-4 in a classic to secure their own place.
Ranji This Round: All Star Game
Eye on penultimate round as big names return to domestic cricket amidst new guidelines
HOW THE BLOC IS CHIPPING AWAY AT ITSELF
Contradictions between INDIA partners have been coming to fore since the 2024 Lok Sabha results. The Congress can neither go it alone, nor wholeheartedly take others along
Sindhu and Lakshya to lead Indian team in Asian meet
DOUBLE Olympic medallist PV Sindhu and World Championships bronze winner Lakshya Sen will lead a 14-member Indian team for the Badminton Asia Mixed Team Championship to be held in Qingdao, China from February 11-16.
Irregular migration a concern: US to India
Rubio tells Jaishankar US wants to bolster bilateral ties
CBI Registers 3 FIRs to Probe K'kurichi Tragedy
The special task branch (STB) of CBI, Chennai, on Tuesday, registered three FIRs to investigate last year's hooch tragedy in Kallakurichi district where at least 68 people died after consuming the illicit liquor.
Speculation rife on Bharat Ratna picks
It's that time of the year when speculation mounts over the possible recipients of the Bharat Ratna, India's highest civilian honour.
Real estate stocks bleed amid sales slowdown
REALTY stocks are under significant pressure amid the broader market sell-off. Over the past month, the Nifty Realty Index has declined sharply by around 20%, with a single-day drop of 4.56% on Wednesday.
NDMA team to assess damage caused by Cyclone Fengal
A multi-sectoral team comprising experts from the National Disaster Management Authority (NDMA) will be undertaking field trips to the districts hit by Cyclone Fengal for assessing the post-disaster needs of the affected areas.
