The microcredit sector was gradually recovering from the first wave when the second wave struck. Industry analysts said that while last year’s outbreak left the rural areas largely untouched, the situation is vastly different now. Experts said microlenders face significant risk from the second wave, given their limited wherewithal. India is in the middle of a major healthcare crisis as the second wave seems to have caught the nation and its government napping. NBFCs cannot stay immune to the second wave either.

Source: Mint May 11, 2021 19:07 UTC