Bharat Financial Inclusion reported a weak set of Q4 earnings. Prudent provisioning and asset quality weighed on the numbers.
In an interview with CNBC-TV18, MR Rao, CEO & MD of Bharat Financial Inclusion spoke about the results and his outlook for the company. He said that there is good demand in the microfinance sector, which is not met by other channels of financiers.
He said the company aspires to be the lowest cost lender in the country.
The company has started two-wheeler financing on a pilot basis, and would also look at starting housing loans on pilot basis, said Rao.
Bharat Financial is focused on efficiency of technology infusion, said Rao. However, 75 percent of disbursement happening in cashless mode, he added.
Currently, 75 percent of disbursement happening in cashless mode, he added.
Watch accompanying video for more details.
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