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Nirmal Bang Report
We interacted with the management of Shriram Transport Finance Company Ltd. and went through the analyst call recordings post Q2 FY22 results in order to understand the growth trends, net interest margin expansion and impact of revision in Reserve Bank of India's asset classification norms.
Shriram Transport Finance follows monthly tagging of non-performing asset and the shift to daily tagging will have an incremental impact of 30-50 basis points on Stage-III assets.
However, RBI's clarification on standardisation of Stage-III assets only after repayment of all outstanding dues will not have any impact on Shriram Transport Finance's as it follows a similar practice.
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