NBFCs, HFCs feeling heat of second wave: ICRA
The Hindu
‘Loan overdues are set to increase’
Collections of non-banking financial companies (NBFCs) have been adversely impacted due to widespread and more stringent lockdowns in May 2021, rating agency ICRA said. “With 25-30% of collection through field operations, loan overdues are set to increase as regular collections and recoveries from overdues were impacted by the more extensive and stringent lockdowns implemented by various states during May 2021,” the rating agency said. However, housing finance companies (HFCs), with a lower share of field collections, had been less impacted than the NBFCs, ICRA said.More Related News