With the downturn in the economy, a report finds that delay in payment of salaries by employers is the top reason for retail loan defaults across India. More than 36% of loan defaults were due to late salary credits, said the report by Paytm-backed CreditMate, which looked at payment patterns of 2 lakh borrowers from fintechs and NBFCs in 30 states.from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2PyeBmh
