Manappuram Finance is looking at a flat growth in its gold loan business during the first two-quarters of the current fiscal (FY21) due to the disruptions caused by COVID-19. The gold loan financier, however, expects pick up in gold loans in the second half of FY21 if economic activity, which has come to a standstill, restarts fully.
Manappuram Finance is a non-deposit taking NBFC and having a strong presence in South India in states of Kerala, Tamil Nadu, Karnataka and Andhra Pradesh.