-The New Indian Express When he was in Class IV, Binesh Balan had done manual jobs in his native Kolichal in Kasaragod to escape grinding poverty. KOZHIKODE: When he was in Class IV, Binesh Balan had done manual jobs in his native Kolichal in Kasaragod to escape grinding poverty. Two decades on, the boy, now 29, belonging to the Mavilan tribal community, succeeded in developing an open Banking software as a researcher...
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Bad loans may hit 22-year high by Sept, RBI stress tests show -Shayan Ghosh and Gopika Gopakumar
-Livemint.com The gross bad loan ratio of banks which stood at 7.5% as of 30 September, could almost double to 14.8% under a severe stress scenario, RBI warns Indian banks’ bad loan ratio could rise to 13.5% under the baseline stress scenario by September, the highest in more than 22 years, posing a risk to the broader economy, the Reserve Bank of India (RBI) said. The gross bad loan ratio of banks which...
More »In rural India, over-reliance on digital technology has worsen financial exclusion -Rajendran Narayanan and Sakina Dhorajiwala
-The Indian Express A technological intervention must have a governance framework in which protection of rights must be fundamental and which provides more choices to the marginalised. Remember the early days of the internet, when it took several minutes to connect to the web through a dial-in modem? Or when you had to wait in line at an STD booth to make an outstation call? Since then, we have made massive strides...
More »SBI, PNB, ICICI, HDFC among 8 top banks witnessing wilful defaults surge -Shayan Ghosh
-Livemint.com * SBI saw total wilful defaults rise by around ₹14,000 crore in the six months to September to ₹58,475 crore *ICICI Bank is the only outlier when seen on a standalone basis, with wilful defaults falling 0.2% Eight of India’s biggest banks have seen a significant jump in wilful defaults in the six months to September, with such loans rising by over ₹37,000 crore to ₹1.5 trillion, shows data on suit-filed accounts...
More »EMI crisis creeping up on borrowers -Shayan Ghosh
-Livemint.com * The spike in auto-debit failures suggest that the pain may have only just begun for India’s small borrowers * With mandatory EMI repayments kicking in since September, many feel the available recast options and a waiver of compound interest are not sufficient. India may be staring at a loan crisis MUMBAI: For someone who had never defaulted on any loans before March this year, Monica Keerthi Karri gets quite harried at...
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