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16.04 - 18:37
Tough times ahead for new borrowers
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The covid-19 pandemic has created a peculiar situation in the loan segment. On the one hand, the Reserve Bank of India (RBI) and lenders are working towards providing relief to existing borrowers, who could be facing cash flow issues that will make it difficult for them to make upcoming loan repayments.
On the other, banks and non-banking financial companies (NBFCs) are tightening lending norms, which could make it difficult for borrowers to get new loans.
According to banking intermediaries, some lenders have started tightening the lending norms and others are going to follow suit. “Lenders want existing customers to continue servicing their loans and may provide some relief.
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COVID-19
United States
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Cases: 46 252 513
Deaths: 750 423
Recovered: 0
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India
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Cases: 34 321 025
Deaths: 459 652
Recovered: 0
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Brazil
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Deaths: 608 235
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Russia
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