In an interview to CNBC-TV18, Ramesh Iyer, VC & MD of Mahindra & Mahindra Financial Services spoke about the latest happenings in his company and sector.
M&M Financial's assets under management (AUM) was at a 6-quarter low but it was not all bleak for the company as it saw strong disbursement growth while asset quality improved.
An ICRA report projects that delinquency levels in non banking financial companies (NBFCs) are set to rise. To put it short people will default more from the loans that they have taken from NBFCs.
Rural economy data suggests that the unemployment rate is falling with increase in rural wages and farm loan waivers have made more cash available in the hands of farmers. In an interview to CNBC-TV18, Ramesh Iyer, Vice Chairman & Managing Director, Mahindra & Mahindra Financial Services spoke about the latest happenings in his company and sector.
In an interview to CNBC-TV18, V Ravi, ED & CFO at M&M Financial Services spoke about the latest happenings in the company as well as sector. Demonetisation effect to a large extent is over and with expectation of a good monsoon the sentiments have turned positive, he said.
Speaking to CNBC-TV18 Ramesh Iyer said that the rural segment is going through difficult times due to the cash crunch and expects difficulty in business for the next two quarters.
In conversation with CNBC-TV18, Ramesh Iyer of M&M Finance, says that NBFCs will be under pressure for some more time.
A pick-up in M&M Financial's revenue growth is likely to take place in the second half of fiscal year 2017 if monsoon pans out as expected, says CFO V Ravi.
Pawan Goenka, Executive Director, Mahindra & Mahindra said, the company along with co-petitioners Toyota and Mercedes will urge the Supreme Court on Tuesday to reconsider its decision on diesel car ban after carefully running through all the published facts on contribution of automobiles in causing pollution.
Welcoming the rate cut by HDFC Bank, Ramesh Iyer, MD, Mahindra & Mahindra Financial Services says he hopes others in the system follow the lead that will help companies with sizeable borrowing in their books.
Tightening norms for NBFCs, RBI on Monday raised their capital adequacy requirement and net owned fund limit, among others, with an objective to mitigate risks in the sector.
The Reserve Bank of India (RBI) said that rules for restructuring loans by non-banking financial companies will be the same as those of banks.
The company‘s current base lending rate is up to 10 percent. Tractor sales have picked up since the last quarter and it expects tractor yields to be better than new car financing.
Even as auto companies are struggling with falling output and declining demand across the nation, demand for automobile loans still seems to be stronger in the rural areas.
Bharat Doshi, ED & Group CFO, Mahindra & Mahindra, doubts the Reserve Bank of India‘s (RBI) final guidelines to allow licensing of new private sector banks. He told CNBC-TV18 that more clarity on the transition provisions is required.
Dr Andrew Kuper, President & Founder of LeapFrog Investments said, the company is very excited to form a strategic alliance with Mahindra and they are looking forward to grow Mahindra Insurance Broking further. Leapfrog will help to bring the best global practices to its Indian business as well, added Kuper.
Ravi, CFO, Mahindra & Mahindra Financial Services, was optimistic about maintaining growth and observed that there was sufficient liquidity in semi-urban and rural India. Ravi also ensured that the company was able to maintain the low NPAs from the start of the year.
In an interview to CNBC-TV18, Ramesh Iyer, Mahindra & Mahindra Financial Services Ltd says, the company has not seen so much of pressure on the demand side yet. “I don’t think we have seen so much of pressure on the demand side yet. The volumes are still there.”
Ramesh Iyer, Managing Director, Mahindra & Mahindra Financial Services (MMFSL) expects 25-30% growth in FY12. “In the past, we have grown at least 25-30%, I don’t see that a challenge.”
The managing director of Mahindra & Mahindra Financial Services, Ramesh Iyer tells CNBC-TV18 that he sees the net interest margins to come down consistently. “In FY12, expect NIMs at over 9%,” he says.
V Ravi from Mahindra & Mahindra Financial Services, in an interview with CNBC-TV18's Latha Venkatesh and Anuj Singhal, analysed the impact of the credit policy on non-banking financial companies (NBFCs) and banks.
According to the industry reports, CV makers are making a big push into the rural and semi urban areas. In an exclusive interview with CNBC-TV18’s Latha Venkatesh and Soniya Shenoy, Ramesh Iyer managing director of Mahindra & Mahindra Financial Services shares his expectations.