In 2009, when the monsoon was less than 20% of its long-term average, Mahindra Finance was debating whether to stay true to its business model. The gross non-performing assets (GNPA) had touched 9%. For the company, which derives close to 85% of its business from rural and semi-rural markets, keeping bad loans in check was proving difficult.
Farming Out Growth
Mahindra Finance is tapping new segments to tackle the errant monsoon and fickle farm incomes
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