The asset quality of microfinance portfolios worsened in the quarter ending June 2024 due to the impact of heatwaves on borrowers' incomes and collections, coupled with rumours of loan waivers, according to Sa-Dhan. Jiji Mammen, executive director and chief executive officer of Sa-Dhan, said loans with 90+ days past due (dpd) rose to 1.2 per cent in June 2024, compared to 0.9 per cent in June 2023. The 90+ dpd also increased from 1.16 per cent in March 2024.
'The favourable rupee-dollar exchange rate, there are opportunities we can tap.'
Aditi Mammen Gupta, who hails from the family that started Malayala Manorama, MRF Tyres & Funskool, tells us about her start-up.
Commercial banks have turned cautious in lending to smaller microfinance institutions (MFIs), which has compelled the latter to borrow from non-banking financial companies (NBFCs) at much higher rates. Recently Reserve Bank of India (RBI) Deputy Governor M Rajeshwar Rao slammed micro lenders for increasing their margins "disproportionately" and said these lenders were quick to pass on the increased cost to the borrowers but reluctant to pass on the benefits under the new regime, where margins are not capped.
In mid-March this year, the finance ministry asked state-run banks to review their gold loan portfolio for the two-year period between January 1, 2022, and January 31, 2024. This business had grown at a fast clip. Reserve Bank of India (RBI) data has it that it grew 15 per cent to Rs 1 trillion in FY24. Now, in recent times, any kind of exuberance in financial services has seen the authorities swoop down - be it pushing the lines on governance or unsecured credit.
'Yes, there have not been any express fast bowlers that are coming from the MRF Pace Foundation that we used to have back in the years.' 'But that's not going to happen anymore. Now, in the next few years, you are gonna see a lot of really good fast bowlers coming out from the MRF Pace Foundation again.'
Tamil Nadu is leaving no stone unturned in marketing its upcoming global investors meeting on January 7 and 8. While business veterans are promoting the positives of the state's industrial climate through the 'Titans of Tamil Nadu" campaign, the state is narrating the human stories behind its robust industrial growth via the 'One Trillion Dreams' campaign. Among the industry bigwigs, who are showcasing Tamil Nadu to the world through this mega marketing initiative include Venu Srinivasan of TVS Motor Company, K M Mammen of MRF Ltd, Pratap Reddy of Apollo Hospitals, P R Venketrama Raja of Ramco Group, Mallika Srinivasan of TAFE; and Vellayan Subbiah of Murugappa Group.
In the ensemble trial, Johnson & Johnson's vaccine was 85 per cent effective against severe/critical disease and demonstrated protection against hospitalisation and death. The vaccine was consistently effective across all regions studied globally, including in South Africa and Brazil, where there was a high prevalence of rapidly emerging Beta and Zeta variants during the study period.
Take the Rediff Biz Quiz and find out how much you know about acronymns of company names.
The film's shooting has begun in Kozhikode.
Indian American Leadership Initiative President Kathy Kulkarni and IALI Vice President Anurag Varma, who had prepared for over three months to put together the organization's national convention, have reason to smile.
The ongoing strike, now in its 118th day, by workers at two of tyre giant MRF's factories has resulted is Rs 1,000 crore of losses, according to K M Mammen, managing director.
Dr Zachariah P Zachariah, arguably the most influential Indian- American Republican and a major fund-raiser for the party for more than two decades and a close friend of the Bush family, has been charged with insider trading by the United States's Securities and Exchange Commission.
The assembly by-poll had assumed significance in the backdrop of the factionalism within the Congress, which had resulted in the party losing the Ernakulam Lok Sabha seat in a by-poll two months back.
Escorts Ltd has posted a net profit of Rs 261.40 million for the quarter ended December 31, 2002 as compared to net loss of Rs 210.60 million in the quarter ended December 31, 2001.
MRF test drives a new, more luxurious, brand.
Favouring self-regulation by media, Prime Minister Manmohan Singh on Wednesday said some aberrations had crept into the "fiercely independent" journalism and it should itself find ways to remove them.
After resisting for more than three years, the Centre on Tuesday revealed names of 18 persons in the Supreme Court who allegedly stashed black money with the LST bank in Liechtenstein and against whom prosecution have been launched by the Income Tax department.
Increasing the duties on auto parts and putting an additional cess on petrol and diesel could drive up costs of vehicles, specially where volumes are low and localisation is not viable.
The fruitless pursuit, which tore the Talwars' lives and reputations to shreds, means that Aarushi's killers have not only got away but may never be found, says Sunil Sethi.
Folk artist from Chhattisgarh Teejan Bai, Guelleh, Naik and theatre actor from Maharashtra Balwant Moreshwar Purandare will be honoured with Padma Vibushan.
Between 2011 and 2014, they indirectly determined the price of tyres in the market, says report
The Reserve Bank of India (RBI) on Thursday paved the way for niche banking by issuing draft guidelines for setting up payment banks and small banks.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances