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Coronavirus outbreak will hit lending: Genpact ex-CEO Pramod Bhasin

According to him, demand reduction is likely to be over 50 per cent in many cases

Bhasin said that non-banking financial companies (NBFCs) will also face an impact

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Bhasin said that non-banking financial companies will also face an impact

3 min read Last Updated : Mar 25 2020 | 12:47 PM IST

Pramod Bhasin, former Genpact chief executive officer (CEO) and chairman of online lending platform Clix Capital, said the COVID-19 pandemic is going to impact the online lending space in a big way.

According to him, demand reduction is likely to be over 50 per cent in many cases. He also warned of a surge in bad loans and delayed payments as result of significant cash flow shortages. “Impact of the virus and the lockdowns are bound to have a very significant impact on the overall economy as well as the lending environment across India. Given that businesses cannot operate normally, people

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