Do you think the Securitisation Act has helped housing finance companies to improve their debt recovery?
Certainly it has. Though rate of default in housing finance is comparatively much lower, ever since the Act has come into force, borrowers have become quite aware and regular in payment of their installments. Some borrowers, who are served notices on default in payment for few months, come up to settle their cases. Last year, we recovered Rs 6 crore.
