How Bike Bazaar Ran Into A Credit Crisis

Pune-based two-wheeler finance startup Bike Bazaar has stopped lending, halting all new disbursements beginning December 2025 owed to a sharp deterioration for its loan book. Credit ratings agency ICRA downgraded Bike Bazaar to BBB status earlier this month, marking it as a high risk borrower. The reason: More than a third of its portfolio is now either not paying or has already been sold off as distressed debt.