Wednesday, 10 July 2019
Sales of television units reach a peak level during big events but it is very unusual this year that, despite the ICC Cricket World Cup, TV sales were lower than last year, said Sanjiv Bajaj, managing director of Bajaj Finserv."So that is a signal," said Bajaj.It is not only that non-banking financial companies' liquidity crisis hurting the rural and SME lending, but the economy is also slowing down, said Bajaj in an interview with CNBC-TV18.
"The economy is slowing down any way whether it is HDFC numbers or whether our own numbers, we have lower growth and this both consumer space, consumer demand is low. this has nothing to do with the NBFCs lack of ability to lend in the last couple of quarters. That is probably further adding to it but the slowdown is quite apparent," said Bajaj.