-Newsclick.in Through “nationalised banks-NBFC” deals, the Modi government is trying to achieve what the three farm laws could not achieve. In colonial times, the peasantry had to borrow from private moneylenders. According to Provincial Banking Enquiry Committee reports, these moneylenders in turn borrowed from commercial banks. But while disbursing credit to the peasants and charging exorbitant interest rates, the money lenders at least bore the whole of the lender’s risk. The banks...

-MoneyLife.in While lenders harass individual or small borrowers to the point of even releasing the borrowers’ photos to the press for publishing them, it appears that big corporate defaulters are bestowed with immunity from such humiliation. They are a protected species. In fact, Reserve Bank of India (RBI) even declined to reveal to the Lok Sabha the details of loans written off of major corporates.    In a written reply, Dr Bhagwat Karad,...

-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...

-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...

-Press release by Vikalp Sangam (vikalpsangam.org), dated 5th December, 2020 Vikalp Sangam (vikalpsangam.org) -- a conglomeration of 60+ active CSOs and members -- in its press release dated 5th December, 2020 has stated that the newly enacted farm laws of the Centre will lead to further land alienation (landlessness) and destitution of the peasantry because the laws permit, in thinly disguised form, the unsparing loot by the lobby of agri-businesses and...