Microfinance business is significantly impacting small finance banks like ESAF, Suryoday, and Utkarsh, with nearly a fifth of their microloan books under severe stress. This deterioration in asset quality, driven by high unsecured microloans, is weighing heavily on their profitability and has led to rating downgrades and losses for some.
US stocks: US market ends down sharply; worries about AI trade and high oil prices weigh
Wall Street faced a sharp decline on Friday as AI-related technology stocks came under renewed pressure. Concerns regarding debt-laden AI infrastructure companies affected investor sentiment