₹5,000-10,000 given as emergency and working capital loans' The coronavirus pandemic is likely to see a dramatic shift in the way microfinance customers will do banking transactions.
More customers are now taking to digital to repay their loans and banks are offering short-term overdraft facilities for individual borrowers.
Suryoday Small Finance Bank, once a microlender, is exploring these new opportunities. In an interview for Mint’s Pivot or Perish series, R.
Bhaskar Babu, managing director and chief executive, Suryoday Small Finance Bank, discusses the strategies to navigate the situation.