Loan Moratorium: Lenders Struggling to Trace Low-Ticket Retail Borrowers

Source: The Economic Times

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 means. Unless they can get hold of them, repayments stand automatically deferred. The Reserve Bank of India has announced a three-month moratorium on repayments to cope with the effects of the Covid-19 lockdown.