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Fintech cos say loan collections dip; RBI's recast plan created confusion among customers

Fintech cos say loan collections dip; RBI s recast plan created confusion among customers
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Financial technology (fintech) lenders are witnessing a slowdown in loan collections during the second wave of COVID-19, with paybacks for overdue loans being impacted by up to 20 percent, as agents are unable to go into the field, a survey said on Friday.
The RBI announcement on loan restructuring has created confusion within the customer segment, the survey by a lobby group of the new-age lenders said.
Apart from the inability of the collection agents, the impact on repayment abilities at borrowers end because of genuine distress and medical emergencies was blamed for the dip in collections in the survey conducted by Fintech Association for Consumer Empowerment (FACE). ....

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RBI's new restructuring package for small borrowers: Will it work?

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Banks defer, restructure Rs910.7bln worth of loans

Business
April 8, 2021
KARACHI: Banks and development finance institutions (DFIs) have deferred and restructured loans worth Rs910.7 billion in a year to help borrowers cope with economic distress amid the Covid-19 pandemic, according to the latest figures posted by the central bank on its website.
Loan Extension and Restructuring Package of State Bank of Pakistan also known as Debt Relief Scheme was launched on March 26, 2020 to facilitate borrowers in restructuring and deferment of their loans. The scheme aimed to preserve the solvency of the borrowers and enable them to combat the temporary economic disruptions.
The loan deferment scheme expired in September, while the loan restructuring scheme ended on March 31, 2021. ....

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Banks defer, restructure Rs910.7bln worth of loans

Banks defer, restructure Rs910.7bln worth of loans
thenews.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenews.com.pk Daily Mail and Mail on Sunday newspapers.

Restructuring Package Of State Bank , Taurus Securities , Restructuring Package , State Bank , Debt Relief Scheme , மறுசீரமைப்பு ப்யாகேஜ் ஆஃப் நிலை வங்கி , டாரஸ் பத்திரங்கள் , மறுசீரமைப்பு ப்யாகேஜ் , நிலை வங்கி , கடன் துயர் நீக்கம் திட்டம் ,

Banks defer, restructure Rs910.7bln worth of loans

Banks defer, restructure Rs910.7bln worth of loans
thenews.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenews.com.pk Daily Mail and Mail on Sunday newspapers.

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