The microfinance sector is consolidating after a period of stress. Private banks and NBFC-MFIs have increased their lending portfolios. While the overall market saw a slight dip, early delinquency rates are improving. Experts anticipate a return to normal growth by the end of the first quarter of FY27. This marks an inflection point for the industry.
Credit card spending in India moderated in January to Rs 1.99 lakh crore, down from December's festival-led high but up over 8% year-on-year. This indicates a normalization of growth after a festive surge, with active card numbers rising to 116.6 million, though new additions slowed due to tighter underwriting and regulatory caution.
Fairfax-backed IIFL Finance is planning to raise $500-750 million in external commercial borrowings and dollar bonds this March. This move aims to diversify its funding sources and support business growth, with discussions underway with existing investors and banks from Singapore and Taiwan. The fundraising will utilize dollar-denominated loans and foreign currency social bonds.
After 68 years, Mr. Clean, the bald, strapping mascot of the household cleaning products bearing his name, announced his retirement in a social media post.
