Lenders should brace themselves for a tough time once the policy support given at the time of the pandemic is withdrawn, the Reserve Bank of India (RBI) said, warning of a deterioration in asset quality.

Housing financiers, RBI specifically said in its Trends and Progress report released on Tuesday, could see a substantial impairment in their loans assets because of delays in completion of housing projects, cost overruns and delayed investments by home buyers.

“As of end-August, around 40% of outstanding loans of the financial system availed moratorium. The data on gross non-performing assets (GNPA) of banks are yet to reflect the stress, obscured under the asset quality standstill with attendant financial stability implications,” the report, which provides details of the performance of the banking sector during this fiscal and the previous one, said.

Amazon invests Rs 11,400 crore in India in FY20

US e-commerce giant Amazon has pumped in over Rs 11,400 crore (about USD 1.5 billion) during FY2019-20 across its marketplace, payments and wholesale business units in India to bolster its position in the country’s burgeoning digital commerce market.

The investments have been made even though most of the Amazon’s business units in India registered losses during the fiscal. Data analysis from regulatory filings by various Amazon entities showed that Amazon Seller Services, Amazon Wholesale (India), Amazon Pay (India) and Amazon Transportation Services saw their losses adding up to Rs 7,899 crore in FY20 as against a loss of Rs 7,014.5 crore in the preceding fiscal.