-The Hindu Business Line MSMEs are using funds from the Emergency Credit Line Guarantee Scheme more to pay off earlier loans than as growth capital The Emergency Credit Line Guarantee Scheme (ECLGS) was one of the highlights of the economic package announced by the government in May, and it became operational on May 23. The scheme is basically a loan guarantee for all MSMEs which were operational as on February 29 with...
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Has personal loans seen a rebound ahead of the festive season? The answer is in the negative
Just before Dhanteras and Diwali this year, the Reserve Bank of India (RBI) released the November edition of its monthly bulletin. The latest RBI Monthly Bulletin says that the GDP has contracted by -8.6 percent in the second quarter of fiscal year 2020-21 (i.e. July-September, 2020) as compared to the gross domestic product (GDP) during the corresponding period last year. It may be noted that India’s GDP shrunk by -23.9...
More »Why the new farm laws will not level the playing field -Arjun Harkauli
-Down to Earth Creation of unregulated private points of sale will only ensure that the produce continues to be sold as before — at below MSP and without any government support More than 86 per cent farmers in India own or cultivate on less than two acres of land and have little surplus to sell. They are the victims of middlemen (arthiya) at the mandis (local exchange markets) and are forced, by...
More »loan interest waiver to be credited by November 5
-The Hindu Scheme will be implemented even for borrowers who did not avail moratorium. Three weeks after informing the Supreme Court that the Centre would bear the additional compound interest on loans of up to ₹2 crore availed by retail borrowers as well as micro, small and medium enterprises (MSMEs), the government formally communicated the modalities of the scheme to lenders on Friday. Banks and other lenders, including co-operative banks and non-banking finance...
More »In Kerala village, farmers can mortgage their trees for interest-free bank loans -Vishnu Varma
-The Indian Express The ingenious plan, a brainchild of state Finance Minister TM Thomas Isaac, was formally rolled out earlier this week in Meenangadi, a panchayat of 33,000 people curled up in the Western Ghats hills in Wayanad district. Kochi: In a bid to encourage planting and preserving trees and thereby reduce carbon footprint, a village in Kerala has kickstarted a project that will allow farmers to mortgage the trees on their...
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