I agree, the pandemic accelerated the already increasing trend. Even if it slows I think it will be easily offset by new customer acquisition.
There is one other interesting point I forgot to mention. In AR 2020 they mention owning more than 100 toll plazas, likely acquired from struggling infrastructure borrowers. What makes this significant is that there are only 562 toll plazas in total according to NHAI http://tis.nhai.gov.in/tollplazasataglance
IDFC FIRST Bank continues to be one of the leading banks with acquisition of over 100 toll plazas, having issued over 10,00,000 tags in FY20. The Bank has teamed up with various fleet owners, dealers and Tech service providers in the logistics space to provide Digital solutions which are simple and secure to use for the truck operators.
The bank will likely benefit from increased logistics movement going forward. I would appreciate if anyone can comment on how this would benefit the bank, there could be negatives as well because it’s not core business.