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NBFCs go easy on MSMEs as NPAs bite
Mint Kolkata
|November 18, 2025
IFL Finance maintains a "very cautious status" on MSMEs and the microfinance business, chief financial officer Kapish Jain told analysts on 31 October, adding the focus is largely on "recovery and collection.”
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US tariffs hurt MSMEs' ability to repay loans.
(ISTOCKPHOTO)
Credit rating agency Crisil has been sounding the alarm. In an October report, Crisil warned that bad loans in the MSME segment “may witness a cyclical inch-up, particularly in export-oriented sub-segments hit by the US tariff.”
The US has imposed a hefty 50% tariff on Indian goods, hurting production and cash flows at many export-oriented MSMEs in leather, textiles, chemicals, and gems and jewellery sectors, and impacting their ability to pay back loans.
The MSME sector accounts for more than 30% of India’s gross domestic product, and is the second-largest employer after agriculture.
This story is from the November 18, 2025 edition of Mint Kolkata.
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