Amid surge in MFI defaults, small borrowers binge on debt
The number of borrowers taking loans from three or more lenders was 11 million, or 13% of the total microfinance borrower base of 85 million, showed the latest data collated by credit bureau CRIF High Mark, and seen by ET. At present, the microfinance sector is reeling under severe asset quality stress. The sectoral gross nonperforming assets ratio rose to an 18-month high of 11.6% at the end of September
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The cities with the best money management skills, according to WalletHub
Residents in these cities have high credit scores, low income-to-debt ratios, and rarely m…
