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Borrowers seeking loan moratoriums rose after June; will be judicious on loan recasts: Axis Bank

Borrowers seeking loan moratoriums rose after June; will be judicious on loan recasts: Axis Bank

Finance
MUMBAI:Axis Bank on Tuesday said there was an uptick in the number of borrowers who opted for loan moratoriums after June and emphasised that the lender will be "judicious" in restructuring borrowings under the new rules. About Non-Performing Assets (NPAs), the bank's Chief Executive Officer and Managing Director Amitabh Chaudhry said its stress tests are now showing lower slippages across any scenario than earlier. "The 9.7 (per cent) was the number as of June 30. Obviously over a period of time some more customers do ask for moratorium, so I can definitely say that the number has gone up a little bit rather than coming down, which has happened for everyone," Chaudhry told in an interview. The chief of the country's third largest private sector lender was responding to a query on the qu...