A key innovation for financial inclusion and providing credit to entities that lack access to the traditional financial system, these apps nonetheless raised a host of business conduct issues such as unfair business practices, opaque interest rates, and unethical recovery practices. As a percentage of overall loan portfolio of banks and NBFCs, digital lending represents 0.31%1 and 0.55%, respectively in FY 2017.
Euro area annual HICP inflation was 2.7% in February 2012, according to Eurostat’s flash estimate, slightly up from 2.6% in January. Looking ahead, inflation is now likely to stay above 2% in 2012, mainly owing to recent increases in energy prices, as well as recently announced increases in indirect taxes.