BFSI Sector Update - Assessment, Impact Of Second Covid-19 Wave Intensity: ICICI Securities
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ICICI Securities Report
Unsuccessful auto-debit requests (bounce rate) in terms of value on National Automated Clearing House platform have spiked 4%% to 31% as against the average 27% for January-March 2021.
Last year, during the same period from April-June, it was around 35-38%.
During the first Covid-19 wave, delta rise in bounce rate over the average was 30-40% and due to moratorium and non-tagging of non performing loans the pace of moderation was underwhelming.
As compared to that delta during the second Covid-19 wave seems to be 8-10% and there is hope on early normalisation.
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