Mahindra Financial Expects Loans to Surge on India Monsoon Boost
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Heavier monsoon rainfall is likely to help drive growth at Mahindra & Mahindra Financial Services Ltd., which provides loans for tractors, utility vehicles and other equipment.
“The monsoon fortunately turned out to be better after a delayed start,” Chief Financial Officer V Ravi said in a phone interview. The Mumbai-based company sees its loan growth increasing to 10%-12% in October-March from about 3% in the first half of the fiscal year that began April 1.