Mumbai: Banks and shadow lenders are finding it hard to locate some of their clients, many of whom haven’t been able to pay their dues on time amid the current economic distress. Financiers across the spectrum are struggling to trace low-ticket borrowers, about a fifth of their customers, through virtual […]
borrowers
The Reserve Bank on Friday announced an asset classification standstill for three months to May 31 but asked banks to set aside additional money as provisions against loan accounts where the 90-day moratorium on repayments has been utilised. On March 27, it had given term-loan borrowers the option of a […]
The Reserve Bank of India on Friday revised exposure limits for urban cooperative banks (UCBs) to a single borrower and a group of borrowers to 15 per cent and 25 per cent, respectively, of tier-1 capital. The RBI had earlier permitted UCBs to have exposures up to 15 per cent […]