Small-ticket personal loans under Rs 10,000 saw higher delinquency rates, especially for loans taken between Dec 2023 and June 2024. NBFCs, focusing on borrowers outside major cities, dominated this segment. Despite some high-risk reductions, delinquencies rose post-March 2024 due to macroeconomic challenges. The report stresses ongoing risk assessment and careful monitoring of borrower credit scores for sustainable lending.
Related news
India's Finance Act of 2022 has introduced a 30% tax on income from cryptocurrencies, classified as virtual digital assets. Investors are required to pay 1% TDS on transactions exceeding certain limits and cannot offset cryptocurrency losses against other gains or carry them forward.
Interest rates for various small savings schemes remain unchanged from January 1 to March 31, 2025. Rates include Sukanya Samriddhi Scheme at 8.2%, PPF at 7.1%, and NSC at 7.7%. This is the fourth consecutive quarter without changes, confirmed by the finance ministry, helping maintain stability for investors.
Finance Minister Nirmala Sitharaman explained that the recent selling of Indian equities by foreign institutional investors is due to profit booking as the Indian economy provides good returns. Finance Secretary Tuhin Kanta Pandey added that during global uncertainties, FIIs tend to return to their home countries, predominantly the US.
Indus Towers posted a consolidated net profit of Rs 4,003 crore in Q3 2024-25, driven by robust tower and colocation additions, and significant overdue collections from a 'major customer.' A write-back of Rs 3,024 crore in doubtful receivables and expected network expansions are set to further enhance growth.
Analysts have issued varying ratings on major companies like Tata Motors, GMR Airports, HAL, Bharti Airtel, and Vodafone Idea, underlining prospects based on recent developments. Factors such as expected tariffs, new orders, profitability forecasts, and government support significantly influence these ratings, indicating trends in the market.
Joann Inc, the fabric and crafts retailer, is shutting down all stores after 80 years of operation. Despite efforts to keep the company afloat, financial struggles and weak consumer demand led to its decision to close following a recent acquisition by GA Group.
Air India is establishing a massive flying training organization (FTO) in Amravati, Maharashtra, by mid-2025. The airline has ordered 34 trainer aircraft from US and Austrian manufacturers to facilitate the training of 180 pilots annually. This ambitious project aims to address India's growing pilot demand and bolster the nation's aviation infrastructure, aligning with the 'atmanirbhar Bharat' vision.
The US economy ended 2024 with a solid performance driven by strong consumer spending and government support resulting in a 2.8% growth for the year. Despite inflation pressures and a slight dip in business investment, the overall economic outlook remains positive as President Donald Trump takes office in 2025.
IndusInd Bank faces a significant financial impact as it addresses discrepancies in its foreign exchange derivative portfolio, leading to overstated net interest income. The bank's credibility is questioned, prompting swift action to rectify financials and appoint a new successor to restore investor confidence.
Zomato's third-quarter profit dropped by 57% to Rs 590 million due to increased spending on its quick commerce platform, Blinkit. Despite this, overall revenue surged 64% to Rs 54.05 billion. Revenue from the core food delivery business grew by 22%, while Blinkit's revenue more than doubled as Zomato focused on expansion and faced stiff competition.