Magma Fincorp’s Nationwide Customer Survey on
Commercial Activites and Asset Deployment
News Desk, News Nation 360: Mumbai-based NBFC, Magma Fincorp Limited conducted a survey of 3 lakh customers across cars, commercial equipment (CE), commercial vehicle (CV) and tractor segments recently. The survey found that on a weighted average basis deployment across asset classes has improved on July 20 compared to April 20. On the basis of the report, Commercial Vehicles/Construction Equipment saw a ten-fold increase in vehicle deployment between April and July. Out of the 60% asset deployment, load utilization was 50%. The Personal Car segment comprised customers whose cash flows are largely dependent on their businesses. There has been an improvement in the
cash flow situation. Customers who have largely been in addressing downstream customers from essential goods, agri-based & FMCG sectors are showing positive trends vis à- vis customers in sectors such as garments, gems & jewellery etc. At Commercial Cars Taxi segment, includes app cab & tour operators have seen low deployment. At tractors segment for Agri-based usage Bumper Rabi crop harvest and timely government Interventions enabled farmers to improve crop sale and cash flows during challenging times. 70% of the customers were able to make their payments on time. For Commercial usage, improvement is to be seen as Cash flow crunch persists due to deployment issues. Deepak Patkar, CEO - ABF Biz, Magma Fincorp, told Magma is committed to - Investing in the smallest dream. They believe the act of a first-generation entrepreneur seeking finance for buying a productive asset, represents the very soul of financial inclusion – it is thousands of such customers that are helping build a modern India from the grassroots.
Report : Anustup Kundu