India covid-19 reports Waves India

Fintech firms witness dip in loan collections amid second Covid-19 wave

Reading now: 340

medical emergencies.The RBI announcement on loan restructuring has created confusion within the customer segment, the survey by a lobby group of the new-age lenders said.

56% of the firms said they expect to provide restructuring to less than 10% of the borrowers.The survey was conducted on 100 fintech firms in which 69% of them have witnessed 10-20% decline in loan collection which are overdue for 31-90 days.However, the requests for delayed payment are significantly lower than the first wave, the survey said, adding that 87.5% of the lenders reported lesser requests for delayed payments.“This indicates that the phenomenon is temporary and should not have a long-term impact on asset quality," it noted.The survey said the situation is.

The website is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News