AUM under moratorium for Bajaj Finance reduces to 15.5% in Q1 of FY21

Firm may need to make additional provisioning due to covid-19 to further strengthen its balance sheet. In Q4FY20, it made provisions of Rs 1,954 crore, of which Rs 900 crore was set aside for covid-re

In its quarterly update, Bajaj Finance has said, its asset under management (AUM) under moratorium has reduced to 15.5 per cent at the end of June quarter of FY21 from 27 per cent at the end of April 30. But it may need to make additional provisioning due to covid-19 to further strengthen its balance sheet. In Q4FY20, it made provisions of Rs 1,954 crore, of which Rs 900 crore was set aside for covid-related stress.

New loans booked by the financier plummeted 76.3 per cent to 1.7 million in Q1FY20 compared to 7.3 million in Q1FY20. While the asset under