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According to the latest report by ICRA (Information and credit rating agency), assets under management (AUM) growth of NBFCs has been revised to 5-7 % for the fiscal year 2022 from the projected 8-10%, As The first half growth for FY2022 for NBFCs has been less than 1%.
ICRA has alerted that the growth for the 4th quarter would be low because of the frequent disruptions which are caused by the third wave of the pandemic.
“Apart from the various regulatory changes over the last 3-4 months (other key regulations include – scale-based regulations, prompt corrective action framework for NBFCs, etc) and a muted H1FY2022, we note that some of the key segments of the retail-NBFCs, especially vehicle finance, are faced with supply-side constraints, which could pull-down growth vis a vis our expectation, even if the demand remains less impacted by the new wave of infections.” said AM Karthik, VP, ICRA. He believes that the AUM will revive back to 8-10% in FY23.
AUM growth for NBFCs revised to 5-7%: ICRA
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