Stock markets in India are presently trading marginally higher. Sectoral indices are trading on a mixed note with stocks in the IT sector and banking sector witnessing maximum buying interest. Realty stocks are trading in the red.

The BSE Sensex is trading up 123 points (up 0.4%) and the NSE Nifty is trading up 32 points (up 0.3%). The BSE Mid Cap index is trading down by 0.1%, while the BSE Small Cap index is trading down by 0.4%. The rupee is trading at 63.97 to the US dollar.

In the news from the finance sector, asset quality in the housing loan space, especially that of affordable housing segment, has deteriorated during FY17.

As per the monthly report by the Reserve Bank of India (RBI), a majority of the slippages for housing finance companies (HFCs) have taken place in the affordable home loan slab of up to Rs 0.2 million. The bad loan ratio in this segment shot up by 0.6% in FY17 to 10.4%. Further, HFCs bore the major brunt with the bad loan ratio jumping by 2.5% to 8.6% by the end of FY17, as can be seen in the chart below:

(Click on image to enlarge)

As per India Rating and Research, affordable housing finance is estimated to be a Rs 6 trillion business opportunity by 2022 and will be the principal growth driver for home loans.

Note that HFCs are likely to be the major beneficiaries of the affordable housing boom in India. Though banks with a share of more than 60% are the biggest players in the home loan market, it's the housing finance companies (HFCs) that have established their presence in niche markets, such as small ticket-size loans, and the non-salaried or self-employed segment in small towns and cities.

That said, one needs to be watchful of the slippages and bad loans for these companies. It's because not all but the ones that balance growth with asset quality through stringent risk management will be wealth creators in the long run.

In the news from cryptocurrency space, Bitcoin is witnessing selling pressure today. The cryptocurrency has extended its tumble seen yesterday amid fears of regulator clampdowns.

The correction is seen on the back of news that South Korea is considering banning the trading of cryptocurrencies.

Bitcoin and cryptocurrencies are a curious bunch. They have no central bank backing and have not yet been regulated. Yet, these seem to have found favour among a large number of people, with demand growing every day. There are over 800 cryptocurrencies in existence today, with new ones being added to the list every day.

While the world of digital currencies is intriguing, it can get very confusing for the layman. Indeed, a lot of people are still skeptical about the currency's future. Our own government and the central bank certainly don't like Bitcoins.

And yet, it would probably not be wise to dismiss bitcoins and the blockchain industry entirely.

At least, not without understanding the mechanisms that make cryptocurrencies and blockchain work in the first place.

As is the case globally, there is tremendous interest in bitcoins in India as well. The good news is that expertise is at hand to help you navigate the seemingly complex world of cryptocurrencies.