-Newsclick.in Harassment by loan recovery agents hired by these apps has led to at least 21 suicides across India between 2020 and 2021. Meghna Patel took her first loan early in 2020 from an app called FlyCash, whose ads she had been seeing on Facebook. It was a small amount. Just Rs 500. She had to repay Rs 550, two weeks later. The app even had a borrowing limit of Rs 1,000. Recently,...
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How Covid-19 hurt household savings in India -Shoaib Daniyal
-Scroll.in A drop in household savings has caused concern about economic recovery in the country. On Wednesday, the Reserve Bank of India released data on household savings for the third quarter of 2020-’21. This covered the October-December 2020 period, which means the data captured the aftermath of first Covid-19 wave in India and the economic disruptions that containment measures such as lockdowns caused. The numbers are disappointing with a sharp dip in the...
More »Without Addressing Legacy Issues, Can Digitising Land Records in India Be a Game Changer? -Sandip Chowdhury
-TheWire.in For millions of rural families who still lack access to good internet connectivity or are computer illiterate, the programme may end up increasing out-of-pocket expenses. As part of the Digital India Land Records Modernisation Programme (DILRMP), the central government intends to create an Aadhaar-like unique identification for every land parcel in the country. The initiative named Unique Land Parcel Identification Number (ULPIN) will assign a geo-referenced 14-digit alphanumeric unique ID for...
More »Why Punjab finally relented on direct payment for farmers at 2-hour meet with Piyush Goyal -Chitleen K Sethi and Samyak Pandey
-The Hindu Rabi marketing season kicks off in Punjab Saturday but, until Thursday, the state and central governments had been locked in a tussle over the mode of payment to farmers. Chandigarh/New Delhi: A “threat”, some fireworks, and a concession — it was after a super-charged two-hour meeting between its ministers and Union Consumer Affairs, Food and Public Distribution Minister Piyush Goyal Thursday that Punjab finally agreed to introduce direct benefit transfer...
More »Parliament proceedings -- Banks wrote off ₹1.15 lakh cr. in nine months of FY21: Anurag Thakur
-The Hindu “As per RBI data, scheduled commercial banks (SCBs) have written off loans of ₹2,36,265 crore, ₹2,34,170 crore and ₹1,15,038 crore during FY2018-19, FY2019-20 and the first three-quarters of FY2020-21 respectively,” the Minister said. Banks have written off Bad Loans to the tune of ₹1.15 lakh crore in the first three-quarters of the current fiscal, the Lok Sabha was informed on March 8. As per RBI guidelines and policy approved by bank...
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