-Financial Express The credit outstanding to industry stood at Rs 32.4 trillion as of September 23, according to the data. The banking sector lending to industry has picked up, led by disbursals to the micro, small and medium enterprises (MSME) sector. Bank credit to industry improved 12.6% year-on-year in September, compared to a muted 1.7% growth in the same month last year, data released by the Reserve Bank of India (RBI) showed. Banks’...
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The low productivity trap of collateralised lending for MSMEs -Harsh Vardhan
-Ideas for India The share of bank credit extended to MSMEs increased dramatically during the pandemic. In this post, Harsh Vardhan discusses the the government guarantee of bank loans as a possible driver of this growth. He outlines the current policy of providing credit against collateral, and the constraints MSMEs face while borrowing– which leads to decreased investment and firm productivity. He argues that the learnings from the credit guarantee scheme...
More »56 mn Indians may have turned poor in 2020 due to pandemic: World Bank -Asit Ranjan Mishra
-Business Standard "The global goal of ending extreme poverty by 2030 is likely to be missed: by then, about 600 million people will remain in abject poverty. A major course correction is needed," Indermit Gill said. About 56 million Indians may have plunged into extreme poverty in 2020 as a result of the pandemic, increasing the global tally by 71 million and making it the worst year for poverty reduction since World...
More »Oxfam's India Discrimination Report: Women in India earn less and get fewer jobs
-Press release by Oxfam India dated 15 September 2022 New Delhi: Oxfam India’s latest ‘India Discrimination Report 2022’ finds women in India despite their same educational qualification and work experience as men will be discriminated in the labour market due to societal and employers’ prejudices. The academically recognised statistical model applied in the India Discrimination Report is now able to quantify the discrimination women face in the labour market. The lower...
More »At India’s Climate, Finance and Policy Intersection, Big Infra Remains King -Amitanshu Verma
-TheWire.in * As of last year, financial institutions from India were the third-largest investors out of six countries financing 80% of the world’s coal investments. * A 2021 report found that ICICI, the State Bank of India, Axis Bank, Trust Group and HDFC were among the fourth-biggest group of financiers of coal-based projects worldwide. * Indian commercial banks’ large-scale investment in Big Infra has exposed the Indian people’s savings and personal investments to...
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