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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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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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