-TheWire.in Despite the fact that India's financial inclusion infrastructure has a complex mix of self-help groups and small private banks offering credit to the poor, it has failed to deliver during the pandemic. When the pandemic struck, policymakers and prominent economists across the world called for financial infrastructures to be strengthened. They argued this would support the efficient channeling of relief through cash transfers or cheap loans. India was no exception to...
More »SEARCH RESULT
Total Matching Records found : 1082
Many schools in Bengaluru tie up with third party finance companies to collect fees -Soumya Chatterjee
-TheNewsMinute.com Parents say despite the Karnataka government putting a school fee cap of 70% of tuition fees, this has not been enforced due to ongoing litigation. A legal stalemate at the Karnataka High Court over the fee regulation of ICSE and CBSE schools in the state and especially Bengaluru has left many parents high and dry. Since the onset of the pandemic and the resultant economic slowdown, parents who suffered a loss...
More »Indian family budgets are stretched, they’re borrowing more. Faster vaccination can fix this -Ila Patnaik and Radhika Pandey
-ThePrint.in RBI data shows a sharp increase in households borrowing against gold. Other indicators also show higher borrowing. More credit is fine, but vaccination needs priority. The second wave of the Covid-19 pandemic and the ensuing lockdown has hit household incomes sharply. Households have survived to a large extent by borrowing. The Reserve Bank of India (RBI) data shows a sharp increase in households borrowing against gold. In addition to borrowing from the...
More »Nod for cash payment for COVID bills of over ₹2 lakh
-The Hindu The relaxation has been granted for payments received in cash between April 1 and May 31, provided such healthcare providers obtain the PAN or Aadhaar of the patient and the payee. The government has notified changes to the Income Tax Act to allow cash payments of over ₹2 lakh for COVID-19 patients’ treatment at hospitals, dispensaries, nursing homes, COVID care centres or other similar medical facilities. The relaxation has been granted...
More »Collections at small finance banks feel the heat of covid -Gopika Gopakumar
-Livemint.com Localized lockdowns and rising covid cases among collection agents hamper loan recoveries Small finance banks are beginning to feel the heat of localized lockdowns and the advancing pandemic wave, as the virus spreads to India’s small towns and hinterland. However, they are better prepared this time, after last year’s severe setback. “The disease is spreading much faster, especially in smaller towns. Rural customers are, however, less impacted. There have been some delays...
More »
