Private banks like Kotak Bank and RBL Bank are experiencing higher defaults in the microfinance sector. Kotak Bank reported a 10% rise in net profit, but its microfinance arm saw significant losses. Similarly, RBL Bank saw an 86% drop in net profit due to increased provisions for microfinance loans. Industry-wide challenges are anticipated to stabilize in the coming quarters.from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/qnwMc2j
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