
Context:
Bad loans in the peer to peer (P2P) lending industry more than doubled in FY24 to ₹ 1,163 crore from ₹ 472.1 crore in FY23, according to a report published by Capital mind Financial Services on Monday.
Highlights:
- Bad loans in the peer-to-peer loan industry increased from ₹472.1 crore in FY23 to a staggering ₹1,163 crore in FY24: Capital mind Financial Services.
- A bad loan is a loan that a borrower is unlikely to repay. It’s also known as a non-performing loan (NPL).