Mahindra Rural Housing Finance resumes disbursements; raises Rs 1,400 cr

With a freeze on disbursements, its advances were almost flat at Rs 7,783.8 crore at end of June 2020 as against Rs 7,870.1 crore in March 2020

Abhijit Lele Mumbai
Mahindra Rural Housing Finance resumes disbursements; raises Rs 1,400 cr

In normal times monthly disbursements were between Rs 170 crore and Rs 200 crore. The collections would be around Rs 250 crore.

Mahindra Rural Housing Finance Ltd (MHRFL), has resumed loan disbursals and collections, both of which had been put on hold for most of the first quarter due to the Covid-19 pandemic outbreak.
MRHFL, a subsidiary of Mahindra and Mahindra Financial Services, has raised over Rs 1,400 crore in April-July 2020 to stay liquid.
Anuj Mehra, managing director, MHRFL said it was a conscious call on the part of the company not to disburse. Its business model is entirely physical as property and documents have to be checked. There was no activity In April and May, and limited activity in June.

Also Read

M&M: Rural demand, normal monsoons and higher MSP to support volumes

Collections have doubled in each month during June quarter: M&M Finance MD

Govt to use RBI money to support struggling NBFCs for just three months

PNB Housing Finance books Rs 351-cr loss in Q4 on increased write-offs

LIC Housing Finance likely to recover Rs 3,000 crore worth NPAs

Persistent Systems' O'Connor steps down as CEO, cites personal reasons

Tea company McLeod Russel moves to settle debts as promoters reduce stake

Flipkart launches startup promotion programme; may invest from its fund

Kunal Shah's CRED start-up aims for revenue through new product launches

World Bank arm invests $10 mn in venture capital firm Endiya Partners

First Published: Aug 10 2020 | 2:00 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers. Already a BS Premium subscriber?LOGIN NOW

Register to