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Expect AUM growing at 15% this fiscal: Shriram Transport

In an interview to CNBC-TV18, Umesh Revankar, MD of Shriram Transport Finance Corporation spoke about RBI's rate cut and how the business shapes up going forward.

September 30, 2015 / 14:40 IST
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In an interview to CNBC-TV18, Umesh Revankar, MD of Shriram Transport Finance Corporation spoke about RBI's rate cut and how the business shapes up going forward.

Below is the transcript of Umesh Revankar’s interview with Latha Venkatesh and Sonia Shenoy.

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Latha: How does life change after yesterday? Will the cost of funds in the next three months be substantially cheaper? How much cheaper?

A: I do expect it to be cheaper by around 30 basis points over the next six months. Immediately of course, some of the banks have already announced, so that should translate into some advantage of around 15-20 basis points for us plus 25 percent of our total borrowing is from the bank right now. So, rest is retail and the institution.