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Kenya Bankers Association through a research note dated January 2024 had called for a halt to further rate increases to help prevent more loan defaults. ....
The rise in bad loans that will come as a consequence of the rise in unsecured loans will be seen in the coming quarters. Lenders such as IndusInd Bank, Bandhan Bank and Yes Bank have reported a higher-than-expected rise in bad loans due to stress from the rising unsecured retail segment. ....
The Congress leader said: 'A country where Rs 14 lakh crore bank loan was written off and tax relief of Rs 1.8 lakh crore was given to corporate, why has a small expense on farmers become such a contentious issue?' ....
Lenders will now hold a Swiss challenge auction on March 6, and have invited counter offers with a markup of Rs 15 crore over the anchor offer. NARCL, set up by government to acquire bad loans, will have the first right to match any counter offer. Metenere, undergoing corporate insolvency, is into lead recycling and makes non-ferrous products such as tin and aluminium. Its insolvency process, started in September 2020, is mired in litigation and, thus, it is not resolved yet. ....