Non-banking finance companies (NBFCs) have been under pressure since September 2018. The pandemic has now created further challenges such as slower growth and a likely rise in bad loans. According to rating agency Crisil, assets under management (AUMs) of NBFCs are expected to de-grow for the first time in nearly two decades in FY21. As of June, a substantial portion of NBFCs’ loan book was under moratorium. Among NBFCs, housing finance companies (HFCs) are faring better. In the current financial...
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