India s central bank has
urged lenders to tighten controls on tiny personal loans
following a surge in borrowing by low income consumers and may
impose stricter measures to avert risks of a blowout.
While bad loans in India s banking sector are at a decade-low, estimated at 3.6% of assets by March 2024 by the central bank, Reserve Bank of India Governor Shaktikanta Das said this month the central bank was monitoring some categories of personal loans, without elaborating.