-The Telegraph Nagpur: A special investigation team will probe the alleged harassment of poor women borrowers in Maharashtra by loan recovery agents of micro-finance institutions, the state government announced today after month-long street protests and an Assembly debate. Junior home minister Deepak Kesarkar assured an agitated Assembly that the state was considering a law similar to one Andhra Pradesh had enacted in 2011 to regulate the MFIs' lending and loan recovery practices. About...

-Business Standard The year-on-year growth in credit was just 6.6%, down from 9.3% a year ago Mumbai: Showing effect of demonetisation, bank credit in India shrunk by Rs 61, 000 crore (0.8% in fifteen days ended November 25, 2016) on the demand destruction. In contrast, banks are trying to cope with the huge inflow of money as people deposited Rs 4,03,000 crore during the same period. The outstanding credit of banking system in...

-The Indian Express India’s largest public sector bank, the State Bank of India, has also seen a jump in PoS transactions from 3.5 lakh to 11 lakh a day with more people using debit cards. Mumbai: One month into demonetisation, there has been a significant increase in digital payments. According to AP Hota, managing director and chief Executive of the National Payments Corporation of India (NPCI), transactions through RuPay point of sale (PoS) machines have...

-The Economic Times Prime Minister Narendra Modi wants India to go cashless. And it seems that automated teller machines, or ATMs, have been taking the lead ever since the demonetisation drive began. They are absolutely what PM wants the economy to be — cashless. The result: people's frustration is building up because ATMs are either getting emptied faster than they are refilled, or they are just not working. ET reports from commercial hubs...

-The Hindu Business Line Ensuring cash availability will be a challenge for banks, too Hyderabad: Come December first week, banks may face immense pressure in disbursing cash when customers withdraw their salaries credited in bank accounts. According to bankers, there will be pressure for all stake holders during December 1-7 when salaries are disbursed for government and private sector employees across the country. According to government data, the Centre’s total salary and allowances bill...