Very few customers -- less than 15 percent -- have approached LIC Housing Finance for moratorium, said Siddhartha Mohanty, MD and CEO of the company.
“If you see our customer composition, regular income group constitutes a very significant part of our portfolio -- more than 76-77 percent. So our experience is people who have applied for moratorium, percentage wise it is very less," said Mohanty.
"Moratorium is helping people who are in stress. Extension of moratorium – how long can we extend it because ultimately this is just a moratorium, it is not a waiver. We have received some 13-14 percent, less than 15 percent applications for moratorium and that will not impact. It will not affect our cash flow much, minor deviation will be there but we are able to manage,” he added.
Reserve Bank of India (RBI) governor Shaktikanta Das on Monday met non-banking financial companies (NBFCs) and mutual funds (MFs) to discuss availability of liquidity, post-lockdown strategies for supply of credit, implementation of 3-month moratorium, strengthening grievance redressal mechanisms and plans for the way forward.