No Changes Due To The Lockdown, Thanks To Cloud
Banking Frontiers|November 2020
Manoj Viswanathan, Director & CEO, Home First Finance, discusses the business scenario of affordable housing finance, technology up-gradation and geographical expansion:
No Changes Due To The Lockdown, Thanks To Cloud

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?

This story is from the November 2020 edition of Banking Frontiers.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

This story is from the November 2020 edition of Banking Frontiers.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

MORE STORIES FROM BANKING FRONTIERSView All
Finance gears up for festivities
Banking Frontiers

Finance gears up for festivities

BFSI companies are charging their online and omnichannel strategies with personalized festive deals this season:

time-read
4 mins  |
October 2024
Non-cash transactions can touch a phenomenal level by 2028
Banking Frontiers

Non-cash transactions can touch a phenomenal level by 2028

Capgemini Research Institute’s World Payments Report 2025 highlights the era of account-to-account an instant payments:

time-read
3 mins  |
October 2024
The Confluence of Artificial Intelligence and Cybersecurity: AI as the Game Changer
Banking Frontiers

The Confluence of Artificial Intelligence and Cybersecurity: AI as the Game Changer

In an increasingly interconnected world, safeguarding our digital assets has become paramount. Enter the dynamic duo: Cyber security and Artificial Intelligence (AI).

time-read
3 mins  |
October 2024
A new trinity in digital lending space
Banking Frontiers

A new trinity in digital lending space

Three platforms in the lending space are poised to change the way lenders offer credit and borrowers access funds in India:

time-read
4 mins  |
October 2024
Finance gears up for festivities
Banking Frontiers

Finance gears up for festivities

BFSI companies are charging their online and omnichannel strategies with personalized festive deals this season:

time-read
4 mins  |
October 2024
Small MFI, International Engagements
Banking Frontiers

Small MFI, International Engagements

Mitrata Inclusive Financial Services in the midst of transformation growth

time-read
3 mins  |
October 2024
MFIs: Big Impact Big Changes,
Banking Frontiers

MFIs: Big Impact Big Changes,

Even as MFIs are fueling economic growth for the underprivileged, what is interesting is that they are transforming themselves in areas like HR, technology, funding, leadership, collections, and more. Banking Frontiers presents the initiatives and initiatives at 9 such organizations:

time-read
3 mins  |
October 2024
Climate Risk Forum for CROS
Banking Frontiers

Climate Risk Forum for CROS

Excerpts from a discussion on shaping the future of climate change resilience in India:

time-read
3 mins  |
October 2024
Seamless Supply Chain Finance
Banking Frontiers

Seamless Supply Chain Finance

Deep insights emerge from this fireside chat at NBFC's Tomorrow Conclave.

time-read
6 mins  |
October 2024
Star Health sees strong demand from the IT sector
Banking Frontiers

Star Health sees strong demand from the IT sector

Biju Menon, Chief Business Officer at Star Health Insurance, looks at the evolution of employee health insurance from multiple perspectives:

time-read
4 mins  |
October 2024