‘Asset quality pressure to persist for NBFCs’
The Hindu
‘Collection efficiency hit, rising now’
The pressure on quality of assets for non-banking financial companies (NBFCs) would persist in the near term and the risk to this sector would remain elevated due to the impact of the COVID-19 second wave, ICRA said in a report. Stating that large Housing Finance Companies (HFCs) had witnessed relatively limited impact on their collection efficiency (CE) during the second wave, the ratings agency said other NBFCs with exposure to several segments such as vehicle finance, business loans and microfinance saw their CEs decline by about 20-25% in May 2021 vis-a-vis the average Q4 FY2021, when the lockdown imposed by various states was more stringent and widespread. The CE improved marginally (rising 3-5%) in June compared with May, with States steadily relaxing restrictions, it added.
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