Manappuram Finance has diversified into vehicle loans and microfinance even as its traditional preserve — the gold loans business — has seen the entry of banks. This was due to the relaxation in loan-to-value (LTV) norms during the pandemic. The firm’s managing director (MD) and chief executive officer (CEO) V P Nandakumar makes a case for equal treatment with banks in an interview with Raghu Mohan. Edited excerpts:
What’s your outlook on gold prices given that the Fed is not done yet with its rate hikes? And, what does it mean for those who have availed of gold loans?
Gold prices will only increase; it will hover around $1,750/Oz to $1,800/Oz. It’s already on expected lines because the Fed may further raise its policy rate. Our average loan-to-value (LTV) is less than 70 per cent whereas customers have the ability to borrow up to 75 per cent. The
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