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Local demand and supply remain good in the rural market: CreditAccess Grameen

Updated : September 08, 2020 05:30 PM IST

Microfinance lender CreditAccess Grameen Ltd (CAGL) on Tuesday said local demand and supply remain good in the rural market.

In an interview to CNBC-TV18, Udaya Kumar Hebbar, managing director, said, "India's rural demand is really good. The company has said that rural is very resilient in this country and every time, particularly micro-finance borrowers have come back very fast, every time it has come back to normalcy."

Speaking about moratorium, he said, "Our collection efficiency in July was 76 percent than 82 percent in August. We expect that again going up towards 90 percent in this month. Almost 15 percent of our clients are not able to pay as they are under moratorium till August 31 and slowly that is also coming down."

He further added, "For Maharashtra, customers who have taken moratorium is just 11 percent so others have been paying actually. So Maharashtra is little higher because of the prolonged lockdown."
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