Fintechs' personal loan portfolio drops 10% in Q2, NPAs rise: FACE

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Fintechs' personal loan portfolio drops 10% in Q2, NPAs rise: FACE - Business Standard

Quick Summary:

In a data release -- which comes amid concerns on the personal loans front, which have even led to actions from RBI to curb lending in it -- Fintech Association for Consumer Empowerment (FACE) said the loan outstanding dropped to Rs 66,683 crore at the end of September compared to Rs 74,057 crore in June.

Fintechs' portfolio outstanding in the riskier personal loans segments dropped by 10 per cent in the September quarter, a self-regulatory organization (SRO) for the sector said on Monday.

The SRO said loans unpaid for over 90 days increased to 3.4 per cent from 3.2 per cent in June.West Bengal (4.1 per cent), Uttar Pradesh (3.7 per cent), Rajasthan and Gujarat (3.6 per cent) each had the highest incident of stress, it added.