Mumbai, June 5 -- Banks and non-banking financial companies in India are mapping new strategies as they prepare for the challenge of recovering their retail loans amid widespread disruptions to household incomes from the coronavirus crisis.
Most of these financial institutions are repurposing existing workforces to pursue their lowticket borrowers once the lockdown measures and the six-month moratorium on loan repayments are lifted.
State Bank of India (SBI), the country's top lender, for instance, is exploring a tie-up with the Department of Posts to reach out to the bank's massive customer base. SBI is also looking to divert its business correspondents for collection of farm loans, according to a senior bank official.
Currently, SBI ha...