Manoj Agrawal, Ravi Lalvani: What is the impact of the lockdown on your business?
Manoj Viswanathan: A little background first. Home First Finance is a 10-year-old company, and we are in the business of providing affordable housing finance. Our customers are salaried and self-employed, and they belong to the middle class and most of them are buying their first homes.
Covid has impacted our business and customers. However, our customers are quite resilient to disruptions like covid; they were confused during April and May, but from June onwards, most of them have gone back to their respective jobs or businesses and they are regularly paying their EMIs. We had low business in April-May, but from October onwards, we are expecting to reach 80% of the pre-covid levels. In the initial period, some of our customers have availed moratorium because their business and income got impacted. In September, 95% of our customers came back to us, and they said that they do not want to avail of the moratorium and wanted to pay their regular EMIs.
Mumbai, Delhi, and Pune were the hotspots of the pandemic, so these cities were most impacted. From a geographic perspective, there is a uniform demand from the rest of the cities. We mostly get business from the periphery areas of the cities because the central parts are expensive areas.
Have you launched any new products during this period?
Denne historien er fra November 2020-utgaven av Banking Frontiers.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra November 2020-utgaven av Banking Frontiers.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Swedbank leverages data to the hilt
Sweden's Swedbank takes innovation to a different level by collaborating with other competing banks:
Digitization is for customer satisfaction, says Argenta Bank
Belgium's Argenta Bank has designed its digitization efforts to enhance customer experience:
Speed, Safety, Compliance
Brijesh Samantaray, Co-founder, Propelld shares the current trends in the education loans how the company is leveraging technology:
Unique methods in fraud perpetration
When we look at some of the very serious frauds that had taken place in the financial realm, it is evident that the perpetrators are somewhat ingenious:
NBFCs: Elevating Organizational IQ
What is more important than hiring smart people is raising organizational IQ. This topic was discussed in depth in a panel discussion at NBFC's Tomorrow conclave organized by Banking Frontiers. Edited excerpts:
Trustful Transformation
Transformation is no longer only about growth & efficiency. It involves aspects like compliance, security and explainability that are impacting NBFCs. These issues are explored in this panel at NBFC's Tomorrow:
CEO Panel: Connecting Traditional Wisdom with Modern Intelligence
Banking Frontiers organized its annual NBFC Conclave titled NBFC's Tomorrow in August 2024 at Mumbai. Highlights of the first panel discussion:
NBFCs EXPERIENTIAL EVOLUTION, TRUSTWORTHY TRANSFORMATION
Banking Frontiers organized NBFC's Tomorrow, its annual NBFC Conclave, in Mumbai on August 21. The program comprised panel discussions on 5 upcoming opportunities for the NBFC sector, along with presentations, fireside chats and a keynote address. Edited excerpts from the conclave:
Smart ATMs - an indication of a resurgence
Smart ATMs can be the future way of how one may be interacting with a bank and doing transactions:
Personalization scores with HNWI & YP
Ghulam Haidar Rasooli, Chief Financial Officer at Afghanistan based Ghazanfar Bank, reveals the impact of personalization and future roadmap:
