An advertisement for Muthoot Finance Ltd. is displayed on a wall as a customer stands nearby in a branch in New Delhi, India. (Photographer: Anindito Mukherjee/Bloomberg)
Muthoot Finance Ltd. said the floods in Kerala, Karnataka and parts of Maharashtra hasn’t impacted its business or its employees.
“The floods haven’t been as severe as last year,” George Alexander Muthoot, managing director of the gold loans provider, told BloombergQuint in an interaction, adding water levels are receding and things are “getting better".
The company has only 4.5 percent exposure in Kerala and about 8 to 9 percent in Karnataka, Muthoot said.
Key Takeaways From The Interview
Have given more time to customers to repay loans instead of auctions.
Banks didn’t reduce rates despite Reserve Bank of India’s rate cuts.