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Rescheduling installments may be better than a moratorium: Ramesh Iyer

"We have made Covid-19-related provisioning in the March quarter. We believe that even by May-end things will open up slowly and normalisation could take another 60 - 90 days," Iyer said

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Mahindra & Mahindra Financial Services

Hamsini Karthik & Shreepad S Aute 

Ramesh Iyer, Vice Chairman and Managing Director, M&M Financial Services says some of the rescue measures announced by the government and the easing of lockdown could give a fillip to vehicle financiers.

Iyer, who is also the chairman of Finance Industry Development Council (FIDC), a representative body for non-banking finance companies, tells Hamsini Karthik and Shreepad S Aute, that flexibility to reschedule monthly instalments would benefit NBFCs. Edited excerpts: You had earlier said that this year’s festive season would be the recovery phase for vehicle ...

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First Published: Sun, May 17 2020. 16:35 IST
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