-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 »Through a rosy lens -Anup Sinha
-The Telegraph The airbrushing of the Indian economy is damaging The latest Monthly Economic Review from the ministry of finance gives the reader a great deal of comfort by indicating that all is well with the Indian economy. If there is any cause for concern at all, it is from external economic and political shocks: events like the Federal Reserve in the United States of America raising interest rates, or Russia invading...
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 »Bank Credit Growth accelerates to 14.2% in June quarter
-PTI/ The Hindu RBI says Credit Growth has been broad-based, outpacing deposit growth Bank Credit Growth accelerated to 14.2% in the quarter ended June 2022 from 6% in the same period of the previous year, RBI data showed on Thursday. In the quarter ended March 2022, bank credit had expanded by 10.8%. The Reserve Bank of India (RBI) on Thursday released the 'Quarterly Statistics on Deposits and Credit of SCBs for June 2022'. This...
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