It is a tricky time out there in the market with the players wondering what to make of the little bit of light that is flashing in between dark clouds, according to T. T. Srinivasaraghavan, Managing Director of Sundaram Finance Limited (SFL). Though there could be a chance of things bouncing back by December, it is still too early to say.
Mr Srinivasaraghavan was in the city to launch the golden jubilee celebrations of the firm’s Thiruvananthapuram branch. “The disappointing trends in the automobile industry have affected financiers as well. There is growth, but on a very small scale,” he pointed out.
The impressions of this financial year, right from the beginning, were not that great. Little has happened since then to change those impressions. However, the macro economic environment is quite unpredictable, and, depending on how things moved in the next six months, the market could look up from December, he said, quickly adding:“This is something that can never be taken for granted.
SFL, according to him, has managed to continue with its position as the top financier and most reliable player. According to Mr. Srinivasaraghavan, SFL’s reach in Kerala is deep. It has been able to maintain its market share. The strategy of getting close to the customer is bearing fruit, he said. SFL, according to him, is always on the look-out for under-served pockets across the State. “Opening more branches will not be a pre-determined step, but one based on the situation and necessity,” he pointed out.
“With our full suite of retail finance products, we have been doing well in all product lines here,” he said.
Mr. Srinivasaraghavan has a word for the public during these times of fly-by-night financial agencies. “Do not get carried away by the rate of interest. Many get lured by high interest rates, but we have to remember that if someone is offering a very high rate, he must be deploying that money in a high risk area and the entire game could be risky. Be sure of the background of whichever firm you put your money in, for how long it has been around, and its reputation. Rate of interest should not be the only criteria,” he added.