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NeoGrowth has received coverage in The Economic Times BFSI, in the industry story titled, NBFCs revived in 2021, uptick to continue in 2022, say leaders, today.
Summary: NBFC leaders are bullish for 2022 as they recovered from the sudden and deadly second COVID-19 wave in the second half of 2021 itself. Though the rise of Omicron remains a risk factor, leaders, overall, expect 2022 to be a year of further revival. The non-banking financial companies witnessed a year of ups and down, but still managed to revive and recover from the disruptions caused by the second COVID-19 wave.
From July 2021 onwards, the COVID-19 lockdown started easing up and many schemes were also implemented to help NBFCs get the funding they needed. The NBFC sector was seen leaning towards digitisation in 2021, to cope with COVID-19. Our CEO, Mr. Arun Nayyar, shared his views on how the year 2021 was for the industry and expectations for the coming year.
Quote by Mr. Arun Nayyar, CEO, NeoGrowth
NeoGrowth Credit, an NBFC founded in 2013, said their 2021 was divided into two halves. “In the first half, we experienced the hit of the second COVID-19 wave, but the second half has been fantastic for us.. our collections are back to pre-COVID levels.. so overall, for us, things are coming back to normal,” said Arun Nayyar, Chief Executive Officer of NeoGrowth.
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