Delinquencies to keep foreign PV NBFC captives under pressure: ICRA

The profitability of foreign passenger vehicle non-banking finance company captives (FOCs) is likely to remain subdued over the medium term, according to investment information agency ICRA. Given the slowdown in passenger vehicle segment along with Covid-induced disruption, FOCs' credit contracted by 8 per cent year-on-year in FY20 and further dipped by 4 per cent in H1 FY21.