IndusInd Bank sells over 1 million microfinance loans to address asset quality issues and reduce bad debts.

IndusInd Bank is selling over 1 million microfinance loans worth ₹1,573 crore due to asset quality issues, mainly from states like Bihar, Jharkhand, and Maharashtra. The loans, with a reserve price of ₹85 crore, are being auctioned to asset reconstruction companies to help improve the bank's asset quality and reduce bad loans. The bank's net profit fell by 39% in the September quarter due to higher provisions.

3 months ago
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