Ramesh Babu B, MD and CEO of Karur Vysya Bank (KVB)
Volumes through our Buy Now, Pay Later (BNPL) product used to rise from Rs 600 crore-Rs 700 crore to Rs 1,300 crore during this period. Because of inflation, uncertainty or a variety of other reasons,” he said during a virtual press conference, responding to a question on festive demand, people are being conservative in their spending, possibly.
Noting that several uncertainties, including the ongoing war, were weighing on sentiment, he said consumers might be postponing discretionary purchases and adopting a wait-and-watch approach. Even during the Dussehra period, we have not seen that kind of strong uptick or surge.
“There is an uptick, but it is not like in earlier years. Chennai: Despite an uptick in demand this festive season, spending has not been as strong as in previous years, Karur Vysya Bank (KVB) MD and CEO Ramesh Babu B said on Friday.
Ramesh Babu said the bank had revised its credit growth guidance for the current financial year to 18%-20%. You Can Also Check: Gold Rate in Chennai | Silver Rate in Chennai | Bank Holidays in Chennai | Public Holidays in Chennai | Chennai AQI | Weather in Chennai | Petrol Price in Chennai | Diesel Price in Chennai | CNG Price in Chennai | LPG Price in Chennai Stay updated with the latest Chennai news. “That’s what I feel. However, they are very confident that things will return to normal. It’s only a passing phase,” he added. Download the TOI App.