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Business News: Loan collections for non-bank lenders surpass pre-second wave levels: ICRA rashtranews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from rashtranews.com Daily Mail and Mail on Sunday newspapers.
New Delhi [India], Apr 24 (ANI): The rising Covid-19 cases has again raised concerns on asset quality of retail loans from non-banking financial companies (NBFCs) and housing finance companies (HFCs), , according to investment information agency ICRA. ....
Rating agencies Icra, Fitch and its domestic affiliate India Ratings (Ind-Ra), said today that the recent spike in Covid-19 cases and associated lockdowns, though localised, could adversely impact non-banking companies (NBFCs). It could also act as a dampener for the securitisation market, affecting fund-raising for NBFCs in the near term and may delay recovery in the sector. India s non-bank financial institutions (NBFI) face renewed asset quality and liquidity risks amid a second wave of coronavirus infections. This may postpone the recovery in the sector, according to Fitch Ratings. The challenges are likely to increase if recent restrictions to contain the pandemic are expanded or prolonged, leading to greater economic and operational disruption. Expanded curbs could derail the fragile recovery in India s NBFC sector. ....