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Microfinance firms, NBFCs may struggle to provide loans in cyclone affected Odisha

Updated : May 09, 2019 08:59 AM IST

The financial firm in its note added that in spite of Odisha having one of the best credit cultures at 0.5 percent, one of the lowest in the PAR>30 portfolios, larger NBFCs are restricting their balance sheet growth, followed by their medium and smaller counterparts, which has made it challenging in providing loans.
The NBFC and micro-financing companies may see negligible to little write-offs from Odisha, which was recently battered by cyclone Fani.
Microfinance companies like CreditAccess has the lowest exposure at 2 percent, while Bharat Financial Inclusion (BFIL) has the highest exposure at 16 percent of total loans in Odisha, the report added.
Microfinance firms, NBFCs may struggle to provide loans in cyclone affected Odisha
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