High costs, rigorous audits deter MFIs from taking credit cover
Microfinance lenders hesitate to adopt the Centre’s credit guarantee cover due to high costs and stringent audit processes. While some lenders find the current stress transient, others seek a tailored scheme. High premiums and partial coverage make the scheme unattractive unless NPAs exceed 6%. Some banks, facing higher NPAs, utilize the cover as risk mitigation.
Outsourcing for US physicians is keeping IKS in good health
Incorporated in 2006, Navi Mumbai-based IKS Health provides a 24×7 comprehensive suite of solutions spanning the entire healthcare value chain assisting physician enterprises predominantly in the US. At the end of September 2024, it had over 775 healthcare organisations as clients. Around 94% of revenues are earned from repeat customers.
Yuan slides on report China considering weaker unit
The move triggered drops in regional peers, with the New Zealand dollar falling to the weakest in more than two years, while the Australian dollar hit levels last seen in November last year.
Nasdaq hits 20,000 for first time as AI rally rages on
It has jumped more than 33% this year, outperforming the benchmark S&P 500 and blue-chip Dow, as technology megacaps including Nvidia, Microsoft and Apple add more heft to the index with their relentless surge.