💨 Abstract

IDFC First Bank's shares dropped 8% on Monday, hitting a 21-month low, following the announcement of a 53% drop in its third-quarter profit due to increased delinquencies in microfinance loans. Gross slippages in the microfinance segment surged nearly 49% to 4.37 billion rupees, while provisions and contingencies more than doubled.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖