Overall the budget proposals are good - Muthoot Finance

Mr. George Alexander Muthoot, MD, Muthoot Finance

"Overall the budget has been good and has focused more on infrastructure, measures to increase GDP ratio, and a clear GST implementation approval which will certainly rejuvenate the industry. We welcome the announcement of Finance Minister on Gold Monetization . Gold loan NBFCs are already doing this Gold monetization through Gold Loans it disburse based on Gold collaterals. It is also a good decision to print Gold Coins in India with Ashoka Emblem. This may reduce the craze for the imported gold coins and may also a become a symbol of patriotism.

NBFC with an asset base of 500 crores or more will surely benefit from the decision to bring them under the SURFASI Act. This will help them to reduce their NPA, without going in for protracted litigations."

Source : Equity Bulls

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