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 can’t travel to work or for business, and shops are shut. So, demand is bound to fall dramatically. This won’t