16 Feb 2022 , 02:42 PM
The clarification by RBI only defers the adoption of the new norms. Reversing of provisions already made, although now permitted is unlikely to be the route that NBFCs may follow due to accounting complexities. For Shriram City Union Finance there will be no impact since our loan book is already well provided for. Further, given the strength of our collection efficiency, we expect our delinquencies to progressively reduce in 2022.
The author of this article is Mr. YS Chakravarti, MD & CEO, Shriram City Union Finance
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