Microfinance slowdown hits group insurance coverage

Group insurance in India is shrinking because fewer people are taking microfinance loans.

When people take these small loans, they often get life insurance with it.

But now, banks are lending less money, so fewer people are getting insurance.

This is bad because it means 50 million people lost insurance last year, and this year it's getting worse.

Some big insurance companies are seeing a lot fewer people covered, except for SBI Life, which actually saw an increase.

Experts say this might not get better soon because the microfinance industry is still having problems.