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Borrowers in default on 21pc of mobile bank loans
At least one in five loans have not been repaid since 2017, compared to 10 per cent for customers who take regular loans, bankers’ lobby says in new report. FILE PHOTO | NMG
At least one in five loans have not been repaid since 2017, compared to 10 per cent for customers who take regular loans, bankers’ lobby says in new report.
One in five loans taken through mobile phone platforms are in default even as the ease of digital borrowing creates an ever-growing pool of distressed borrowers.
