IndusInd Bank Issue: Why is Evergreening Hurting IndusInd Bank?

IndusInd Bank Issue: Why is Evergreening Hurting IndusInd Bank?

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BusinessToday.In
  • Updated Nov 11, 2021 11:51 AM IST

IndusInd Bank has been under fire for the past some days. This after whistleblowers have raised concerns over the bank's micro finance subsidiary giving out evergreen loans. IndusInd Bank has refused the allegations but it did confirm that due to a technical glitch nearly 84,000 loans were disbursed without customer consent. So, what is evergreening of loans and why is IndusInd Bank in a soup?

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