That is a sad state of affairs, though I must say I have seen worse numbers back in India. Last time I talked with them, I was told that I was one of the 3 active accounts out of 20 granted ones that was repaying the loan.
That's 17 out of 20 in default - a massive 85%. Some of them were actually not in a situation where they could pay back the loan. Others didn't want to. This was the situation at that single bank branch. Don't want to imagine how large the total default amount must be.
That's 17 out of 20 in default - a massive 85%. Some of them were actually not in a situation where they could pay back the loan. Others didn't want to. This was the situation at that single bank branch. Don't want to imagine how large the total default amount must be.