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​Several fintech firms have reached out to leading banks to explore alternative credit models, sources told ET. These include opening a bank account — plus an add-on debit card — with lenders to disburse loans, issuing co-branded credit cards instead of PPIs and disbursing the credit as cash directly into a customer’s existing bank account.

"The bank had also filed complaints with the police authorities in 2015 against some of the unscrupulous entities. Incidentally, the matter was subject of scrutiny by the RBl in October 2015 and a penalty was levied on the bank."

The Bank of Canada on Wednesday raised its main interest rate by 100 basis points in a bid to crush inflation, surprising markets and becoming the first G7 country to make such an aggressive hike in this economic cycle.

​​​​​Markets swung wildly on Wednesday, as the euro touched parity versus the dollar for the first time in 20 years, while investors also feared larger Fed rate hikes could be on the way. The Fed is seen ramping up its battle with sky-high inflation with a supersized 100 basis points rate hike at its upcoming policy meeting on July 26-27. * Although gold is seen as an inflation hedge, higher rates hurt the appeal of bullion, which bears no interest

The company reported a total contract value (TCV) of $570 million in the April-June quarter, its highest ever. The metric stood at $390 million last quarter and $504 million in the same period last year.

L&T Infotech, Tata Exlsi, ACC, Angel One, BBTC, Tata Steel Long Products, Butterfly Gandhimathi, GTPL Hathway and Shakti Pumps are among the company that will announce their quarterly earning for the quarter ended June 2022.

The moves put the ECB in a bind. It is expected to raise interest rates next week for the first time since 2011 to combat inflation running at a record high 8.6%. Currency weakness exacerbates that inflation problem. Yet the ECB cannot risk aggressive policy tightening for fear of sending economic growth into reverse.

Data shows that bank loans to non-bank lenders touched Rs 11 lakh crore in May 2022, having expanded by Rs 1.87 lakh crore in 12 months in absolute terms. This is at a time when mutual funds continued to reduce their exposure to NBFCs. During the same period, mutual fund debt exposure to non-bank lenders dropped 3.4% to Rs 1.5 lakh crore.

The high level of sticky loans has shortened the odds on more future write-off by lenders. Write-offs increased to 4.8% at the end of March from 4.4% of the total portfolio three months prior to that, according to the CRIF data, which was released Wednesday.

Microfinance loans overdue by over 30 days along with restructured loans are estimated to have declined 800 basis points to around 14% as of March 2022, after peaking at approximately 22% in September 2021, rating agency Crisil said. But it remains well above the pre-pandemic levels of 3%, Crisil said in May.