NBFCs curb fresh loans in rural markets as weak monsoon raises repayment risks
India's leading non-bank lenders like Shriram Finance and Bajaj Finance are limiting new lending in drought-affected regions. The lenders are closely monitoring borrowers for early signs of repayment difficulties due to weak monsoon rainfall. Companies are adjusting loan growth expectations downward and strengthening collection efforts in impacted locations. Several states are under close scrutiny as economic...
Key Takeaways
- India's leading non-bank lenders like Shriram Finance and Bajaj Finance are limiting new lending in drought-affected regions.
- The lenders are closely monitoring borrowers for early signs of repayment difficulties due to weak monsoon rainfall.
- Companies are adjusting loan growth expectations downward and strengthening collection efforts in impacted locations.
India's leading non-bank lenders like Shriram Finance and Bajaj Finance are limiting new lending in drought-affected regions. The lenders are closely monitoring borrowers for early signs of repayment difficulties due to weak monsoon rainfall. Companies are adjusting loan growth expectations downward and strengthening collection efforts in impacted locations. Several states are under close scrutiny as economic pressures mount from lower incomes and agricultural yields.
Original Publisher Attribution
This summary was curated from Economic Times.