Magma Fincorp expects 20% growth in disbursals at end of current financial year

Magma Fincorp is expecting 20 percent growth in disbursals at the end of the current financial year, as it comes out of the liquidity crunch that hit the shadow banking sector after IL&FS went belly up last September. The company also expects total assets to grow at 7-8 percent at Rs 17,000 crore at end the year.

Magma Fincorp is a non-deposit taking NBFC registered with the Reserve Bank of India (RBI) as an asset finance company. It started operations two decades back and is now listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).