The financier of very affordable homes already expects this type of loan book to very much grow by 30% annually for the next few years, despite the Covid-19 pandemic. The impact of this pandemic of Covid-19 will be limited to the first quarter financial year.
Some of the company already expects very much growth to catch up in the subsequent quarters. Many of the customers are also saying they will like to conserve cash.
There was also an impact on every livelihood, business, salaries and many of the people were going back to the home towns. So the incomes were already impacted, but lives were a little bit less impacted. This time, this is also a different way round. Whenever incomes are very less impacted as the factories are totally running.
Many of the people are busier with this pandemic of Covid-19 instances in their family. So this kind of behaviour is a little bit different. Most of the customers also tell us that they also have money, they would also pay us but they would like to conserve the huge cash due to emergency expenses in their family.
We already made a very good plan to grow the gold loan or other types of loan book by 30% annually for the next few years. We already think that the Covid-19 disruption is going to be temporary.
The Reserve Bank of India has already allowed some of the loan restructurings for every individual affected by this fresh wave of Covid-19.
Some of the restructuring offered by the Reserve Bank of India is very similar to the one provided by the regulator last year.
We always offer some of the best loans between the 12-13% range. We have already spread 4-5% on the interest rate. We always deal with most of the customers who always require more detailed assessment. These are not customers who are also salaried formally. They could also be working in very small companies or can also earn in cash.