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.
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.
Denne historien er fra January 06, 2025-utgaven av The New Indian Express Tadepalligudem.
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 January 06, 2025-utgaven av The New Indian Express Tadepalligudem.
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
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
HDFC Bank net profit up 2.2% in December quarter
DESPITE a sharp deterioration in the asset quality in its agri book, HDFC Bank has reported steep numbers, earning ₹16,736 crore in net income for the December quarter, up 2.2% year-on-year.
Clinical Sinner Crushes De Minaur To Advance
DEFENDING champion Jannik Sinner raced into the Australian Open semifinals on Wednesday in imperious fashion after Iga Swiatek was equally ruthless to close on a first Melbourne crown.
MI Cape Town gain after rain
MI Cape Town took another step towards securing their first-ever SA20 playoffs spot after their match against Durban's Super Giants at Kingsmead was washed out here.
5 Solar Villages to Come Up in Each District of State
CHIEF Secretary K Vijayanand has directed officials to take steps to create awareness among the people on the Pradhan Mantri Surya Ghar Yojana.
50-yr-old man rapes disabled minor in Bheemili
A 50-year-old man allegedly raped a disabled minor girl in Bheemili on Wednesday.
2 Workers Die While Cleaning Septic Tank
TWO sanitation workers from the Dalit community are believed to have died from asphyxiation while cleaning a manhole in Patdi taluka, Surendranagar district.
Install 3-lane cat eyes on highways: EG Collector
EAST Godavari District Collector P Prasanthi directed National Highways Authority of India (NHAI) officials to take immediate steps to install three-lane cat eyes (retroreflective road studs that mark lanes and edges) on roads to warn drivers of potential hazards, such as lane changes or speeding.
Time To Imagine A New Trade Order
International trade and the idea of nation-states choosing their independent economic policies face a challenge as the new US president, Donald Trump, has warned the BRICS nations, including India, against developing their own common currency.
