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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

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

3 min read Last Updated : Aug 10 2020 | 2:04 PM IST

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.