 "Restructured loans of non-bank financials to double by March: ICRA")
The restructured loan books of non-bank financial entities are expected to double to 3.1-3.3 per cent by March 2022 from 1.6 per cent in March 2021 as the second wave of the pandemic hit borrowers.
The pandemic and the curbs imposed to contain its spread have affected the cash flow of borrowers and prolonged the recovery process, according rating agency ICRA. Non-bank financial entities cover finance companies and housing finance firms (HFCs).
In view of the pandemic stress, the Reserve Bank of India (RBI) has allowed lenders to restructure their credit while maintaining the standard asset tag in FY21. In this, the RBI has included loans to small businesses, the key target segment for non-bank finance entities, and extended the MSME restructuring window to September 2021.
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