Will move out of villages where there is no recovery, says Bharat Financial

MR Rao

Managing Director and Chief Executive Officer | Bharat Financial

• Will move out of villages where there is no recovery, says Bharat Financial

• Merger will enable us to give higher ticket size loans: Bharat Financial

• Being part of a bank will help mitigate lot of risks: Bharat financial Inclusion

Bharat Financial Inclusion has written off Rs 470 crore of non-performing assets (NPA) this year. CNBC-TV18's Abhishek Kothari caught up with MR Rao, MD & CEO of the company and asked him about how much of this amount they hope to recover.

Rao said, we are seeing signs of improvement in Uttar Pradesh (UP) and Karnataka. However, recovery in Maharashtra is a bit slow, he added.

Will see NPAs coming down in next few quarters, he further added.

On lending front, he said we will continue to lend where borrowers have repaid loans. However, will move out of villages where there is no recovery, he mentioned.

He also mentioned that cost of borrowing is a direct benefit of merger with IndusInd Bank.