IIFL Finance not looking to convert into bank at this point: MD Nirmal Jain

India's economic environment is positive and liquidity has become 'fairly benign', he says

Credit offtake in the economy will improve in this financial year as the central bank has paused interest rate hikes, said Nirmal Jain, managing director of IIFL Finance. “We are just trying to grow and consolidate our business model as an NBFC,” he told Manojit Saha in a video interview.

Here are edited excerpts from the interview,

While announcing the fourth quarter earnings, you said there was slowdown in the affordable home loans due to interest rate increase. Given that rates are going to stay elevated for at least a year or so, how do you see credit offtake in