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.
Denne historien er fra January 06, 2025-utgaven av The New Indian Express Bhubaneswar.
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Denne historien er fra January 06, 2025-utgaven av The New Indian Express Bhubaneswar.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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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.
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
Bardol woman assaulted with stone: police
The 24-year-old woman who was found severely injured in Kurla forest on January 14 was assaulted with a stone, police said on Wednesday.
HC quashes FIR, asks students to visit jail and submit report
The Orissa High Court has quashed an FIR against five students on the condition that they will visit a jail, observe living conditions of the prisoners and submit a report.
2 more bodies found, C'garh gunfight toll 16
IN a breakthrough, security forces gunned down two Maoists, including an area commander, during an anti-Naxal operation in Bokaro early Wednesday morning.
ISL: Odisha FC fight back to sink 10-man Bengaluru FC
Odisha FC fought back to post a thrilling 3-2 win over Bengaluru FC in the Indian Super League in Bengaluru here on Wednesday.
Airtel's new tariff makes it pricier for base users
BHARTI Airtel's new plan, rolled out following the Telecom Regulatory Authority of India's (TRAI) directive to introduce a single voice and SMS tariff pack, has made the rates 10-15% more expensive for basic phone users.
Union Minister Reddy reviews MCL operation
UNION Minister for Coal and Mines G Kishan Reddy has laid emphasis on the importance of leveraging the rail-sea-rail mode for coal transportation to ensure reliable supply and strengthen the logistics infrastructure.
UCO Bank Q3 net income grows 27%
KOLKATA-based public sector lender UCO Bank has reported 27% growth in net income at ₹638.83 crore in the December quarter, buoyed by better asset quality, better margins and higher interest income as it sold more credit.
Marching rivers snatch away livelihood, displace villagers
KHARASROTA and Brahmani rivers are fast devouring vast tracts of land, snatching away livelihoods and displacing a large number of people in Aul and Rajkanika blocks of the district.
