Atmadip Ray

Equitas Small Finance Bank's Q2 net profit dropped 93% YoY to Rs 13 crore, mainly due to higher provisions for risky loans. Its operating profit rose 6%, while NPAs increased, with gross NPAs at 2.95% and net NPAs at 0.97%.

Despite tighter lending norms impacting unsecured credit disbursal, credit-fueled consumption in India has surged, particularly for smartphones, electronics, and white goods, driven by aggressive no-cost EMI offers and a growing credit card user base, though lenders are cautiously tightening underwriting standards to manage potential defaults.

Despite tighter lending norms impacting unsecured credit disbursal, credit-fueled consumption in India has surged, particularly for

Bandhan Bank and other small finance banks that transitioned from microfinance faced higher slippages in Q2. Despite efforts to reduce micro-ticket lending and increase secured portfolios, 75-80% of fresh slippages originated from the microfinance business

Proposal includes primary infusion into the shadow bank, secondary share sale by promoters, open offer; Founder Nandakumar denies any selloff plan.

Bain Capital is in talks to acquire a controlling stake in Manappuram Finance, betting on the gold loan sector, said people with knowledge of the matter. This comes as the founding family of the Kerala-based non-bank lender and leading gold loan provider is revisiting plans to exit partially or fully, they said.

Synopsis Proposal includes primary infusion into the shadow bank, secondary share sale by promoters, open offer; Founder Nandakumar denies any selloff plan.

Several microfinance lenders in India have reduced their lending rates in recent months following regulatory scrutiny from the Reserve Bank of India, which aims to ensure fair and transparent pricing for borrowers at the bottom of the pyramid.

Delhi Pollution GRAP-III restrictions to be imposed in Delhi from tomorrow; track its impact Synopsis Muthoot Finance reported a 21% YoY rise in consolidated net profit to Rs 1321 crore in Q2FY25. Standalone net profit grew 26% to Rs 1251 crore. Assets under management increased 31% YoY to Rs 90,197 crore.

Loan disbursal to microfinance borrowers decreased by nearly a third in the second quarter. Banks reduced lending more than non-bank lenders. The overall microfinance market size also contracted for two consecutive quarters. The decline is attributed to a deliberate effort to control the overheated market after significant growth in the previous two years.