June 25, 2021India
India: About 45% Fintech lenders see no impact of Covid-19 second wave on loan disbursements.
Recently, India was hit by the second wave of the pandemic that caused many problems in the country. However, it is interesting to note that in the lending sector there was not a great impact. A survey conducted by the Fintech Association for Consumer Empowerment (FACE) of more than 100 members revealed that 56.3 percent of respondents continued to disburse loans in the second wave of the pandemic, but did so cautiously and selectively.
About 31.3 percent of respondents disbursed loans at the same rate as pre-Covid levels, while 12.5 percent disbursed loans at higher levels than in the January-March 2021 quarter.
In terms of collections, about 69 percent of those surveyed said they see 10 to 20 percent fewer collections in the 31- to 60-day overdue segment and in the 61 to 90-day overdue segment.
