💨 Abstract

Indian lenders are preparing for another round of defaults in microfinance loans due to the Reserve Bank of India tightening lending rules. Default rates have already increased, as shown in the results of IndusInd Bank, Kotak Mahindra Bank, RBL Bank, and Bandhan Bank. The RBI has previously highlighted unfair practices in the sector, such as high interest rates and fees.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖