-The Hindu Advisory in the backdrop of suicides in Telangana Hyderabad: The Reserve Bank of India has advised public to be wary of unauthorised digital lending platforms and mobile apps. Taking note of reports about individuals and small businesses falling prey to a growing number of unauthorised digital lending platforms/mobile apps, the central bank on Wednesday said “members of public are cautioned not to fall prey to such unscrupulous activities.” It urged them...
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SBI, PNB, ICICI, HDFC among 8 top banks witnessing wilful defaults surge -Shayan Ghosh
-Livemint.com * SBI saw total wilful defaults rise by around ₹14,000 crore in the six months to September to ₹58,475 crore *ICICI Bank is the only outlier when seen on a standalone basis, with wilful defaults falling 0.2% Eight of India’s biggest banks have seen a significant jump in wilful defaults in the six months to September, with such loans rising by over ₹37,000 crore to ₹1.5 trillion, shows data on suit-filed accounts...
More »EMI crisis creeping up on borrowers -Shayan Ghosh
-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...
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 »Vivek Kaul, columnist on economics and business and author of 'Bad Money: Inside the NPA Mess and How it Threatens the Banking System', interviewed by Rohan Venkataramakrishnan (Scroll.in)
-Scroll.in The author of ‘Bad Money: Inside the NPA Mess and How It Threatens the Banking System’ speaks about Atmanirbhar Bharat and what the media gets wrong. Vivek Kaul is the author of the Easy Money trilogy of books on the history of banking and money and, most recently, of Bad Money: Inside the NPA Mess and How it Threatens the Banking System. In lucid prose, Kaul draws out the history of...
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