Rate cut to trigger growth: Muthoot
The New Indian Express Madurai|January 06, 2025
KOCHI-BASED Muthoot Microfin is hopeful of better days ahead, even as the industry faces headwinds. The second largest micro lender expects the third interest rate reduction earlier last month to attract more customers and also improve collections.
BENN KOCHUVEEDAN @ Mumbai

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.

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The New Indian Express Madurai

India Will Comply With ICC Dress Code for CT: Saikia

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The New Indian Express Madurai

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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.

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The New Indian Express Madurai

Real estate stocks bleed amid sales slowdown

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The New Indian Express Madurai

Sindhu and Lakshya to lead Indian team in Asian meet

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The New Indian Express Madurai

Tungsten: Villagers Meet Union Minister; BJP Prez Says Favorable Decision Today

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The New Indian Express Madurai

Airtel's new tariff makes it pricier for base users

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The New Indian Express Madurai

Congress Will Seek More Seats From DMK In '26

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The New Indian Express Madurai

Tiruchendur renovation plan: HC notice to TN govt

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The New Indian Express Madurai

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The New Indian Express Madurai

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.

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