“The credit demand from farming in general is high. Fish farming and shrimp farming have shown more demand during the ongoing kharif season,” said George Alexander Muthoot, managing director, Muthoot Finance.
The economic rebound and the prospect of above normal monsoon have brightened the prospect of a good kharif season, said Indel Money CEO Umesh Mohanan. “We have witnessed healthy demand from farming segments for gold loans to meet short-term capital requirements,” he said.
Thomas George Muthoot, director, Muthoot Fincorp, said gold loan offtake from farming community has been 10-12% higher YoY.
Aquaconnect CEO Rajamanohar Somasundaram said formal credit offtake is on the rise for aquaculture.