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Covid-19: Mahindra Finance expects loan recast worth Rs 6,000 crore

Out of 1.6 million customers, 100,000-150,000 accounts are likely to come up for restructuring, according to the company

loan, digital lending, finance, technology, banking
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Some customers have sought an additional two-three months to repay, meaning they would start to repay from January.

Abhijit Lele Mumbai
Mahindra and Mahindra Financial Services expect to restructure loans worth Rs 6,000 crore of 0.15 million customers under RBI's loan Covid-19 regulatory package. It will also work to keep net Non-Performing Assets (NPAs) below four per cent in the current fiscal end.

Out of 1.6 million customers, 100,000-150,000 accounts are likely to come up for restructuring. That amount would be around Rs 6,000 crore.

Some customers have sought an additional two-three months to repay, meaning they would start to repay from January. Another set of customers have sought reduction of Equated Monthly installments (EMI) for six months, said Vice Chairman and Managing

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First Published: Oct 28 2020 | 9:29 AM IST

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