Repo hikes boost demand for NBFC, housing finance companies’ FDs
Sundaram Home Finance recorded a sixfold jump in the volume of FDs in June over May after the interest rate was hiked. The Chennai-based HFC witnessed gross receipts of Rs 6-7 crore in May this year. Then the gross receipts rose to over Rs 40 crore in the following month after the first rate revision. It further spiralled in the next month in the wake of the second revision. The company registered gross receipts of close to Rs 60 crore in July alone.