42 NBFCs, housing finance companies increased their provisioning under Indian accounting: EY report

The report noted an increase in Expected Credit Loss (ECL) allowance by 33% and an overall increase in provision coverage rate by 26% as at 31 March 2020 compared to the year ended 31 March 2019. The EY Study, , ‘Expected credit loss analysis for non-banking financial companies’ also shows that companies reported a COVID-19 impact comprising 19% of the ECL allowance as at 31 March 2020.

source https://economictimes.indiatimes.com/industry/banking/finance/42-nbfcs-housing-finance-companies-increased-their-provisioning-under-indian-accounting-ey-report/articleshow/79719909.cms