New data from the CBN has shown that over 95% of loans were gotten from microfinance banks in 2024, leaving the commercial banks to scramble for 5% The data also shows a year-on-year decline in loans, ...

RBL Bank's net profit plummeted 86% to Rs 33 crore in Q3 FY24, mainly due to a Rs 414 crore provision for potential losses in its microfinance loans. Additional stress from unsecured lending segments ...

With evolving economies, the need for financial inclusivity in rural communities is dire. Microfinance institutions have emerged as a powerful tool in ensuring that rural populations are geared ...