Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 151
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
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Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

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        LATEST NEWS UPDATES | ‘Poor in India are ethical... we must lend more to the poor’    </title>
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                            <div style="text-align: justify">-ENS Economic Bureau</div><div style="text-align: justify"><br /></div><div style="text-align: justify">At a time when companies such as Kingfisher Airlines and Suzlon Energy have defaulted on bank loans, finance minister P Chidambaram on Tuesday made a strong pitch for individual borrowers with low income, asking banks and financial institutions to not hesitate in giving loans to them.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">&ldquo;The poor in India are not bad borrowers. The poor in India are not dishonest borrowers. The poor in India are ethical, honest are deserving borrowers. Therefore we must lend more to the poor,&rdquo; Chidambaram said at a function.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">He added that big corporate houses could easily get loans of Rs 1,000 crore, but small borrowers still have to chase banks for loans.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">&ldquo;In fact, a big business house can easily raise a thousand crore rupees. They can even not pay their loans. If you are a small borrower you go after the bank and if you are a big borrower the bank goes after you,&rdquo; he said.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Chidambaram said that if a corporate borrower fails to pay the loan, it is the bank which suffers, not the borrower. &ldquo;But that is not so for the poor borrower. There is no margin of error for him. The small borrower has to borrow small amounts of money, pay what may appear to be a higher rate of interest, make money, repay the loan in time because otherwise he will not get the second loan,&rdquo; he added.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Chidambaram&rsquo;s comments come at a time when a consortium of 17 banks is facing default in a Rs 7,500 crore loan to debt-ridden Kingfisher Airlines. The airline with a loss of Rs 8,000 crore has not serviced loan payments since January this year.</div><div style="text-align: justify"><br /></div><div style="text-align: justify"><em>&lsquo;Need more reforms&rsquo;</em></div><div style="text-align: justify"><br /></div><div style="text-align: justify">The finance minister, concerned over the difficult economic situation, on Tuesday said that the country cannot afford to make more mistakes and made a case for accelerating reforms to promote growth and contain the fiscal deficit.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">&ldquo;We do face difficult situation today and I think what is important that we do not make any more mistakes... we (need to) quickly get back to the path of fiscal consolidation,&rdquo; Chidambaram said at a function. &ldquo;Every aspect of India&rsquo;s economic life requires reform. Yes, we can discuss what reforms are necessary, what are unnecessary... what reforms are priority and what reforms are not,&rdquo; he said.</div>                                                           
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    <br><a href="http://www.indianexpress.com/news/-poor-in-india-are-ethical...-we-must-lend-more-to-the-poor-/1021233/" class="re" target="_blank">The Indian Express, 24 October, 2012, http://www.indianexpress.com/news/-poor-in-india-are-ethical...-we-must-lend-more-to-the-poor-/1021233/</a><div class="clear"></div>
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    <h1 class="cat-box-title">‘Poor in India are ethical... we must lend more to the poor’</h1>
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                            <div style="text-align: justify">-ENS Economic Bureau</div><div style="text-align: justify"><br /></div><div style="text-align: justify">At a time when companies such as Kingfisher Airlines and Suzlon Energy have defaulted on bank loans, finance minister P Chidambaram on Tuesday made a strong pitch for individual borrowers with low income, asking banks and financial institutions to not hesitate in giving loans to them.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">&ldquo;The poor in India are not bad borrowers. The poor in India are not dishonest borrowers. The poor in India are ethical, honest are deserving borrowers. Therefore we must lend more to the poor,&rdquo; Chidambaram said at a function.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">He added that big corporate houses could easily get loans of Rs 1,000 crore, but small borrowers still have to chase banks for loans.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">&ldquo;In fact, a big business house can easily raise a thousand crore rupees. They can even not pay their loans. If you are a small borrower you go after the bank and if you are a big borrower the bank goes after you,&rdquo; he said.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Chidambaram said that if a corporate borrower fails to pay the loan, it is the bank which suffers, not the borrower. &ldquo;But that is not so for the poor borrower. There is no margin of error for him. The small borrower has to borrow small amounts of money, pay what may appear to be a higher rate of interest, make money, repay the loan in time because otherwise he will not get the second loan,&rdquo; he added.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Chidambaram&rsquo;s comments come at a time when a consortium of 17 banks is facing default in a Rs 7,500 crore loan to debt-ridden Kingfisher Airlines. The airline with a loss of Rs 8,000 crore has not serviced loan payments since January this year.</div><div style="text-align: justify"><br /></div><div style="text-align: justify"><em>&lsquo;Need more reforms&rsquo;</em></div><div style="text-align: justify"><br /></div><div style="text-align: justify">The finance minister, concerned over the difficult economic situation, on Tuesday said that the country cannot afford to make more mistakes and made a case for accelerating reforms to promote growth and contain the fiscal deficit.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">&ldquo;We do face difficult situation today and I think what is important that we do not make any more mistakes... we (need to) quickly get back to the path of fiscal consolidation,&rdquo; Chidambaram said at a function. &ldquo;Every aspect of India&rsquo;s economic life requires reform. Yes, we can discuss what reforms are necessary, what are unnecessary... what reforms are priority and what reforms are not,&rdquo; he said.</div>                                                           
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    <br><a href="http://www.indianexpress.com/news/-poor-in-india-are-ethical...-we-must-lend-more-to-the-poor-/1021233/" class="re" target="_blank">The Indian Express, 24 October, 2012, http://www.indianexpress.com/news/-poor-in-india-are-ethical...-we-must-lend-more-to-the-poor-/1021233/</a><div class="clear"></div>
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    <h1 class="cat-box-title">‘Poor in India are ethical... we must lend more to the poor’</h1>
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                            <div style="text-align: justify">-ENS Economic Bureau</div><div style="text-align: justify"><br /></div><div style="text-align: justify">At a time when companies such as Kingfisher Airlines and Suzlon Energy have defaulted on bank loans, finance minister P Chidambaram on Tuesday made a strong pitch for individual borrowers with low income, asking banks and financial institutions to not hesitate in giving loans to them.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">&ldquo;The poor in India are not bad borrowers. The poor in India are not dishonest borrowers. The poor in India are ethical, honest are deserving borrowers. Therefore we must lend more to the poor,&rdquo; Chidambaram said at a function.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">He added that big corporate houses could easily get loans of Rs 1,000 crore, but small borrowers still have to chase banks for loans.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">&ldquo;In fact, a big business house can easily raise a thousand crore rupees. They can even not pay their loans. If you are a small borrower you go after the bank and if you are a big borrower the bank goes after you,&rdquo; he said.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Chidambaram said that if a corporate borrower fails to pay the loan, it is the bank which suffers, not the borrower. &ldquo;But that is not so for the poor borrower. There is no margin of error for him. The small borrower has to borrow small amounts of money, pay what may appear to be a higher rate of interest, make money, repay the loan in time because otherwise he will not get the second loan,&rdquo; he added.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Chidambaram&rsquo;s comments come at a time when a consortium of 17 banks is facing default in a Rs 7,500 crore loan to debt-ridden Kingfisher Airlines. The airline with a loss of Rs 8,000 crore has not serviced loan payments since January this year.</div><div style="text-align: justify"><br /></div><div style="text-align: justify"><em>&lsquo;Need more reforms&rsquo;</em></div><div style="text-align: justify"><br /></div><div style="text-align: justify">The finance minister, concerned over the difficult economic situation, on Tuesday said that the country cannot afford to make more mistakes and made a case for accelerating reforms to promote growth and contain the fiscal deficit.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">&ldquo;We do face difficult situation today and I think what is important that we do not make any more mistakes... we (need to) quickly get back to the path of fiscal consolidation,&rdquo; Chidambaram said at a function. &ldquo;Every aspect of India&rsquo;s economic life requires reform. Yes, we can discuss what reforms are necessary, what are unnecessary... what reforms are priority and what reforms are not,&rdquo; he said.</div>                                                           
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    <br><a href="http://www.indianexpress.com/news/-poor-in-india-are-ethical...-we-must-lend-more-to-the-poor-/1021233/" class="re" target="_blank">The Indian Express, 24 October, 2012, http://www.indianexpress.com/news/-poor-in-india-are-ethical...-we-must-lend-more-to-the-poor-/1021233/</a><div class="clear"></div>
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‘Poor in India are ethical... we must lend more to the poor’

Published on Oct 25, 2012   Modified on Oct 25, 2012

-ENS Economic Bureau At a time when companies such as Kingfisher Airlines and Suzlon Energy have defaulted on bank loans, finance minister P Chidambaram on Tuesday made a strong pitch for individual borrowers with low income, asking banks and financial institutions to not hesitate in giving loans to them. “The poor in India are not bad borrowers. The poor in India are not dishonest borrowers. The poor in India are ethical, honest are deserving borrowers. Therefore we must lend more to the poor,” Chidambaram said at a function. He added that big corporate houses could easily get loans of Rs 1,000 crore, but small borrowers still have to chase banks for loans. “In fact, a big business house can easily raise a thousand crore rupees. They can even not pay their loans. If you are a small borrower you go after the bank and if you are a big borrower the bank goes after you,” he said. Chidambaram said that if a corporate borrower fails to pay the loan, it is the bank which suffers, not the borrower. “But that is not so for the poor borrower. There is no margin of error for him. The small borrower has to borrow small amounts of money, pay what may appear to be a higher rate of interest, make money, repay the loan in time because otherwise he will not get the second loan,” he added. Chidambaram’s comments come at a time when a consortium of 17 banks is facing default in a Rs 7,500 crore loan to debt-ridden Kingfisher Airlines. The airline with a loss of Rs 8,000 crore has not serviced loan payments since January this year. ‘Need more reforms’ The finance minister, concerned over the difficult economic situation, on Tuesday said that the country cannot afford to make more mistakes and made a case for accelerating reforms to promote growth and contain the fiscal deficit. “We do face difficult situation today and I think what is important that we do not make any more mistakes... we (need to) quickly get back to the path of fiscal consolidation,” Chidambaram said at a function. “Every aspect of India’s economic life requires reform. Yes, we can discuss what reforms are necessary, what are unnecessary... what reforms are priority and what reforms are not,” he said.

The Indian Express, 24 October, 2012, http://www.indianexpress.com/news/-poor-in-india-are-ethical...-we-must-lend-more-to-the-poor-/1021233/

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