MFI loan portfolio sees double-digit rise in Q3
Gross delinquencies also increase substantially
The gross loan portfolio of micro lenders has grown in double-digits in the December quarter over the previous quarter, but gross delinquencies have also moved up.
The gross loan portfolio (GLP) of all lenders recorded a growth of 16 per cent during the December quarter to Rs 2,27,893 crore compared with Rs 1,96,820 crore in the year-ago quarter. The GLP of all lenders in the previous quarter, September 2020, was marginally higher at Rs 2,27,843 crore.
However, delinquencies during the OctoberDecember period reached disturbing levels of 13 per cent, higher than the postdemonetisation levels.
As per data from Sa Dhan, portfolio at risk for more than 30 days, or PAR30, has deteriorated to 13.23 per cent from 4.48 per cent in September 2020 and 1.89 per cent in June 2020. PAR-30 was just 1.78 per cent in March 2020.
PAR-60 has moved up 8 per cent and PAR-90 to 4.9 per cent in the December 2020 quarter. Even during the post-demonetisation quarters, delinquencies were much lower. In the quarter ended March 2017, PAR-30 was 10.56 per cent. PAR-180, which technically is a non-performing asset, had moved up from 1.23 per cent in March 2017 to 6.7 per cent in the September quarter and 6.14 per cent in December quarter of 2017.
In 2017, in the aftermath of the demonetisation, liquidity of the borrowers was badly affected. Further, the rumours about loan waivers had affected the collections, which eventually led to large-scale write-offs of micro loans then.
However, Sa Dhan believes that things might not move to such a level this time. "The economic recovery has started happening and the collections have improved. Further, the micro finance industry had put up better checks and balances to avoid such a situation," said Somesh Dayal, associate director, Sa-Dhan.
Melbourne, Feb. 11: Defending champion Sofia Kenin exited the Australian Open in tears on Thursday as world number one Ashleigh Barty negotiated a sticky moment to reach the third round.
Meanwhile, Elina Svitolina lifted in the pivotal moments of the freewheeling contest to move into the third round with a 6-4, 6-3 victory against teenage sensation Coco Gauff in one hour and 17 minutes at Rod Laver Arena.
Fifth seed Stefanos Tsitsipas also survived a five-set marathon with Australia’s Thanasi Kokkinakis, a close friend of showman Nick Kyrgios, to maintain his hopes of a first major win.
With Rafael Nadal crushing the American Michael Mmoh 6-1, 6-4, 6-2 in his quest for the alltime Grand Slam titles record, Kenin and Barty topped the day-time bill — but their matches had very different outcomes.
Self-imposed pressure has weighed heavily on Kenin, 22, the world number four who was defending a Grand Slam title for the first time.
And after an emotional first-round win over wildcard Maddison Inglis, Kenin met her match in the in-form Estonian Kaia Kanepi, who ousted the American 6-3, 6-2.
While Kenin became just the third defending champion since 1970 to fail to reach the third round, Barty further lifted hopes of a first Australian winner since 1978.
Playing with her left thigh heavily strapped, the top seed Barty twice failed to serve out the win before ousting her 387thranked compatriot Daria Gavrilova 6-1, 7-6 (9/7).
Barty, who is unbeaten in seven matches after sitting out nearly all of last year, blamed the lapse on ring-rust.
Elsewhere, Medvedev, who turned 25 on Thursday, powered past the Spaniard Roberto Carballes Baena 6-2, 7-5, 61.
Meanwhile, the volatile Australian Nick Kyrgios had a raucous crowd willing him to a stirring 5-7, 64, 3-6, 7-6 (7/2), 6-4 victory over impressive young Frenchman Ugo Humbert at his favourite John Cain
Arena in a night match.
Also, world number 192 Mackenzie McDonald beat Borna Coric 6-4, 6-2, 4-6, 64 to hand the Croatian 22nd seed the biggest upset of his career.
McDonald, 25, became the lowest-ranked tourlevel winner against Coric, a US Open quarterfinalist last year, and reaches a Grand Slam third round for only the second time.
Later, Tsitsipas was not expected to be troubled by 267th-ranked Kokkinakis but the Aussie, roared on by Kyrgios, saved a fourthset
Wednesday match point before going down 6-7 (5/7), 6-4, 61, 6-7 (5/7), 6-4.
Sixth seed Karolina Pliskova of the Czech Republic had few problems in beating American Danielle Collins 7-5, 6-2.
India’s Divij Sharan and Ankita Raina crashed out of the Australian Open men’s and women’s doubles events respectively, after suffering straight set defeats in the opening round here on Thursday.
Ankita, the third Indian woman tennis player to secure a place in the main draw of a Grand Slam event, and her partner Mihaela Buzarnecu of Romania lost 3-6, 0-6 in just one hour and 17 minutes at the hands of Olivia Gadecki and Belinda Woolcock.
India’s challenge also ended in the men’s doubles competition after Divij and his Slovakian partner Igor Zelenay lost 1-6, 4-6 against the German combination of Yannick Hanfmann Kevin Krawietz in the first round match that lasted one hour and four minutes. —
Women’s singles second round: Elina Svitolina (UKR x5) bt Coco Gauff (USA) 64, 6-3; Ashleigh Barty (AUS x1) bt Daria Gavrilova (AUS) 6-1, 7-6 (9/7); Kaia Kanepi (EST) bt Sofia Kenin (USA x4) 6-3, 6-2; Ekaterina Alexandrova (RUS x29) bt Barbora Krejcikova (CZE) 63, 7-6 (7/4); Anett Kontaveit (EST x21) bt Heather Watson (GBR) 6-7 (5/7), 64, 6-2; Shelby Rogers (USA) bt Olga Danilovic (SRB) 6-2, 6-3; Belinda Bencic (SUI x11) bt Svetlana Kuznetsova (RUS) 7-5, 2-6, 6-4; Elise Mertens (BEL x18) bt Lin Zhu (CHN) 7-6 (10/8), 6-1; Karolina Muchova (CZE x25) bt Mona Barthel (GER) 6-4, 6-1; Karolina Pliskova (CZE x6) bt Danielle Collins (USA) 7-5, 6-2; Donna Vekic (CRO x28) bt Nadia Podoroska (ARG) 6-2, 6-2; Jennifer Brady (USA x22) bt Madison Brengle (USA) 6-1, 6-2; Kaja Juvan (SLO) bt Mayar Sherif (EGY) 3-6, 7-6 (7/2), 6-3; Jessica Pegula (USA) bt Samantha Stosur (AUS) 6-0, 6-1; Kristina Mladenovic (FRA) bt Nao Hibino (JPN) 7-5, 6-1; Yulia Putintseva (KAZ x26) bt Alison Van Uytvanck (BEL) 6-4, 1-6, 6-2.
Some will share closelyguarded secrets, others might open up about their messed-up love lives or their single status. Those who are in the life-is-not-going-anywhere mode might just chill. Who knows, some may firm up plans to dump their boyfriends and move on. In any case, gossip will be the order of the day. And no, boys are strictly not allowed! It’s Galentine’s Day!
From short vacays to just bonding over dinner or partying the night away, ‘womance’ will be in the air on February the 13th — Galantines Day – when girl gangs will do a Carrie-MirandaSamantha-Charlotte from
or maybe what Kareena Kapoor did in the chick flick
Galentine’s Day, as the name suggests, is a celebration of female friendship, that most common and yet most unremarked-upon
of things. The term was popularised following the release of a 2010 episode of US sitcom Parks and Recreation. It has gained traction in recent
years, with an increasing number of women, both single and in relationships, using the occasion to acknowledge the strength of their bonds with other women.
These women are not only confident and secure about themselves, but also in awe of others’ success.
They’re very vocal when it comes to showering each other with praise.
The perfect example of girl power is the ‘lady bureaucrats gang’ of Smita Sabharwal, Secretary to the Telangana Chief Minister, Priyanka Varghese, IFS OSD to the Chief Minister, Dr. Christina Z.Chongthu, Commissioner, Tribal Welfare and Neetu Kumari Prasad, Commissioner of Commercial Taxes, Telangana. Like all close friends, they are there for each other in good times and bad. And this girl gang has an additional reason to celebrate this season – February 14 is Neetu Prasad’s birthday.
WOMEN’S CIRCLE
“Irrespective of its place of origin, women all over the world celebrate female friendship on this day and display love and affection for their BFFs,” says Neetu Prasad. Noting that her large circle of friends comprises mostly women, she explains that, “The comfort which I derive from these female friends is amazing as we understand and connect to each other at a deep level, maybe because the issues we face in our professional and personal lives are similar in nature, which men can’t appreciate much.”
“Female friends are patient, good listeners and not interested in ‘fixing the problems’. Sisterhood gives the wherewithal to stand against archaic societal rules and live life with the dignity which is everyone’s due – be it single women, widows, divorcees, single mothers or any woman who has charted her own path through numerous struggles,” Neetu says. The bond is also special “because many ‘girlie’ topics
are out-of-bounds for male friends, be it fashion, skin care or just juicy gossip.”
OF WOMEN, BY WOMEN
“I am not much of a Valentine’s Day person so Galentine’s Day is an awakening for women who are being respected and coming to the fore,” says Aarti Gupta Surendranath, who produces web shows and advertisements, and is an animal rights activist and environmentalist as well.
“I feel blessed that I have a wonderful set of girlfriends I can reach out to at any time. I have known most of my girlfriends from childhood and though we haven’t met in years, I can connect with them anytime,” she says. “It is also wonderful for gay and LGBT people, as this is a day they can celebrate with the heads held high, something that was very covert all these years,” Aarti notes.
BFFS BEFORE BEAUS
February 14th may be for romance, but February 13th is for girl talk and giggles. Says Yamini Reddy, a Kuchipudi exponent, “Women’s friendship is special, it incorporates a bond of love and care for each other. It is therapeutic and cathartic. It withstands life’s many ups and downs. And it’s always best friends before beaus — that’s why Galentine’s
Day comes before Valentine’s
Day.”
A beau is no doubt special, but, let’s admit it, girlfriends are extra special.
“Galentine’s Day is a fun way to express to your closest girlfriends how special they are. Although with most of my female friends every day feels like Galentine’s Day and I can count on my girls to be there for me whenever I need them, irrespective of time or geography,” says Mallika Reddy, entrepreneur.
BAGGAGE-FREE ZONE
“Having a female friend with whom you can share your life in a very special kind of way is a blessing. One cannot compare the value of such a friendship to a love relationship. It is pure, it is fun, and it is true to the core, with no expectations, unlike in a love relationship where there is always baggage,” says Nupur Kundu, Visual Artist & Art Educator. “I value my relationship with Nin, who is a pure soul
and has been a partner for many years. Being an artist myself, we complement each other,” she adds.
Talking about another renowned artist, she says, “I also deeply value my relationship with my mentor and guide Anjolie Ela Menon, who is not only a great inspiration but also a strong woman who makes you stronger with her learning of life and experience! We have inspiring conversations whenever we catch up for our girly lunches. It is amazing how at her age she connects with anyone of any age. I always feel enriched by her art and feel blessed to have connected with her in my life!”
Girls “want to celebrate everyone they care about, not just their significant other. In these busy times, if you have special days to remind you of special relationships, either with a friend or the love of your life, why not take a moment out of your hectic schedule to spend that time with each other?” sums up Vandana Badruka, entrepreneur.