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NCAER said the contribution of the microfinance sector is significant to the economy with all its forward and backward linkages and its potential to create jobs. But at the same time, it said that monitoring the impact of lending on the borrowers and learning from it would be essential as households and enterprises moving to unsustainable debt positions could make the entire financial system unfavourable.

Delinquencies in the LAP segment remain highest at 4.14% in November 2021, up 30 basis points from a year ago. One basis point is 0.01 percentage point. Loans due past 90 days in the two wheeler segment are also high at 3.64%, up 140 basis points. Consumer durable loan delinquencies are the third highest in the individual segment at 2.81% in November 2021 up 1 basis point year on year. Delinquencies in the credit card segment have eased sharply by 77 basis points to 2.22%.

The Reserve Bank of India is estimated to have sold up to $2 billion in the local currency market to curb wild swings in the exchange rate in what would be the biggest central bank intervention in the aftermath of Ukraine-Russia war, market sources told ET.

The revised plan by Reliance-Acre is said to be above liquidation value, said one of the persons cited above. Lenders were seeking improved resolution plans from the bidders since the previous offers from were below liquidation value. Lenders are hesitant to put to vote all four plans since they were below liquidation value.

All the 11 S&P 500 sector indexes advanced, with financials jumping 2.6% after falling sharply so far this week. The banks index rebounded 3% after hitting its lowest level since September 2021 in the previous session.

CARE Ratings is currently evaluating Nayara Energy’s rating/outlook revision amid global sanctions on Moscow, said three people familiar with the matter. Those bonds were rated AA with stable outlook at the time of issuances. Nayara was formerly Essar Oil.

Large state-owned and private banks were seen selling dollars on behalf of the RBI both in the spot market, and through GIFT City branches, they said.​

Likely, pockets of metals, auto, PSE and select consumption stocks will continue to relatively outperform the broader markets. It is recommended that shorts must be avoided and fresh purchases should be made in very modest quantities unless a directional bias on the way up is established.

The transaction was worth Rs 27 crore. The stock fell by 2.48 per cent to Rs 76.65 in regular trading on NSE.

The total payout from the company will be Rs 4,832 crore, of which Rs 3,367.42 crore will go to promoters.