₹700 crore owing to the covid-19 pandemic and the ensuing lockdown. A private sector banker said on condition of anonymity that recovery of secured assets will not be difficult as the onus, for instance, in a home loan is always on the borrower.“The borrower is aware that he could lose his/her home if the repayments are not made.
For personal loans and other unsecured loans which were stressed even before the lockdown, the recovery efforts will gradually start, although we have been doing whatever we can," said the private sector banker quoted above.Experts believe that the limited reach of collection executives in the lockdown period will pose a challenge for lenders.