Retail loan defaults in India are rising, causing concern for the broader economy as personal loan growth slowed to 14% from over 30% last year. Lenders like Kotak Mahindra Bank and IndusInd Bank reported increased stress in unsecured loans, impacting stock prices, particularly for smaller loan-focused firms like Ujjivan Small Finance Bank. Analysts predict ongoing challenges for at least two more quarters, with high credit costs and potential prolonged stress if loan demand does not improve during the festive season.
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