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

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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.

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