Microfin business shrinks 4% in a quarter as defaults double in a year

In Q2 FY25, the microfinance industry contracted, with delinquency rates increasing to 4.3%, driven by defaults in loans overdue by 30 to 180 days. The industry's portfolio decreased, and measures were discussed to advocate a credit guarantee scheme, operational funds for Northeast India, and improvements in financial practices, governance, and cybersecurity.

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