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Many of those arrested in neighbouring country have ties to apps running riot in India and were involved in the harassment of helpless borrowers, Kathmandu police say
Reuters The nightmare for India’s beleaguered non-banking finance companies seems to have no end. After the economic slowdown and liquidity crunch, now the impact of the Covid-19 pandemic is weighing heavily on the balance sheet of Indian NBFCs. A key indicator of this pressure is the rising number of stage-3 assets, which are accounts that have defaulted on repayment of loans for more than 90 days. The number of such accounts went up during the October-December period for most of the leading NBFCs in India. As part of a Covid-19 relief package, the Reserve Bank of India had allowed bor...