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❝We Look Forward To A Huge Demand For Gold Loans❞
Dalal Street Investment Journal
|June 08 - 21, 2020
While the extended lockdown has impacted the financial sector in a big way, George Alexander Muthoot, Managing Director, Muthoot Finance, is of the opinion that there shall be a major change for NBFCs with MSMEs resorting to gold loans to take care of pending payments
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What are the unique problems faced by your company due to the current crisis?
On account of the virus-triggered lockdown, the overall economy has been impacted, particularly the financial sector. The entire nation was under strict lockdown from March 25 to April 20. Our branches were also completely closed until that date. Post the first phase of the lockdown some relaxations were given for certain sectors in selected states. As such, we have been able to restore our services across India in a phased manner. Our business growth and interest recovery have been marginally impacted on account of the business loss during the lockdown.
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