Impact of 3rd wave low on NBFCs as bad loans fall, collections rise
The third Covid wave hasn't significantly hurt collection efficiency and raised delinquency levels of non-bank financing companies, rating agency India Ratings said in a report. Analysts suggest that the delinquencies in 1-90 days-past-due continue to be in the range of 5%-15%, and additions to bad loans have slowed down materially.
Housing finance companies, 8 NBFCs surrender certificates of registration to RBIThe NBFCs that have surrendered the CoRs are Morgan Stanley India Securities Pvt Ltd, Sankalp Granites Pvt Ltd, Yardley Investment and Trading Company Pvt Ltd, Shirdi Credit and Finance Pvt Ltd, Mangalam Softwares Pvt Ltd, Dholadhar Investments Pvt Ltd, Goodwill Financial Services Pvt Ltd and West Bengal Industrial Development Corpn Ltd.
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