Reuters
The nightmare for India’s beleaguered non-banking finance companies seems to have no end.
After the economic slowdown and liquidity crunch, now the impact of the Covid-19 pandemic is weighing heavily on the balance sheet of Indian NBFCs. A key indicator of this pressure is the rising number of stage-3 assets, which are accounts that have defaulted on repayment of loans for more than 90 days. The number of such accounts went up during the October-December period for most of the leading NBFCs in India.
As part of a Covid-19 relief package, the Reserve Bank of India had allowed borrowers to halt repayment of loans without impacting their credit history between March and August. But with the moratorium now lifted, borrowers still do not seem to have the ability to repay.
Indian NBFCs Bajaj, Mahindra, Cholamandalam face more bad loans — Quartz India
qz.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from qz.com Daily Mail and Mail on Sunday newspapers.
Last time when we met, there was gloom, doom, distress. Now there is excitement, a touch of euphoria and a lot of participation. Good days are back, but are they here to stay?
We last spoke eight months ago. Things were looking quite negative in terms of outlook. But as it so happens, it happens to be one of the best times to invest and that is what we spoke about back then. Obviously since then, things have evolved quite a bit. Markets have moved up because a lot more optimism has come in. But at the same time, the fundamentals are looking a lot better than what it looked like back then. So, the economy has come back. It has rebounded very strongly. Things are looking positive going forward.
Maruti Suzuki Alto, WagonR, Swift, Dzire, Vitara Brezza, others: Finance facility launched for Arena customers
Maruti Suzuki India sells models like the Alto, S-Presso, Eeco, Celerio, WagonR, Swift, Dzire, Ertiga and Vitara Brezza, through its Arena dealerships.
advertisement
The Maruti Suzuki Swift is one of the largest-selling cars in India.
HIGHLIGHTS
The Smart Finance service has been launched in over 30 cities across the country.
The carmaker has digitised 24 out of 26 steps in the vehicle purchase journey of the customers.
Maruti Suzuki India has partnered with twelve financial institutions for the Smart Finance service.
Maruti Suzuki India has launched an online financing platform - Smart Finance - for the Arena customers in more than 30 cities. The country s largest carmaker sells models like the Alto, S-Presso, Eeco, Celerio, WagonR, Swift, Dzire, Ertiga and Vitara Brezza, through its Arena dealerships.
Maruti Suzuki has announced the launch of Smart Finance - an online financing platform for Maruti Suzuki Arena customers across 30+ cities. With the launch of this platform, 24 out of 26 steps in the customer vehicle purchase journey have now been digitised.
vimarsana © 2020. All Rights Reserved.