The asset quality for the non-banks entities weakened quite sharply in Q1 FY2022 because of the localised lockdowns imposed by various states on account of the second wave of COVID-19 infections, which impacted the collection process of these entities,Icra Ratings said.source https://economictimes.indiatimes.com/industry/banking/finance/nbfcs-asset-under-management-shrinks-in-q1-fy22-icra-ratings/articleshow/86166323.cms
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