 "Need cash now? Avoid taking a personal loan for discretionary purchases")
With the government giving greater relaxation in Lockdown 4.0, non-banking financial companies (NBFCs), mortgage lenders, and microfinance institutions (MFIs) are re-opening most of their branches nationwide and disbursing credit, albeit at a slower pace, and enquiries for fresh loans are seeing an uptick.
Repayments have been slow and are cause for concern. Lenders are expecting credit demand to pick up after the second quarter (September).
And, since during the monsoon the propensity of asset acquisition is low, they expect a revival in demand during the festive season.
