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Is loan guarantee scheme serving the purpose? -Madan Sabnavis

-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...

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Akshaya Patra governance under lens as 4 high-profile trustees quit in 2020, NGO denies link -Rohini Swamy

-ThePrint.in 4 trustees are ex-Infosys chief financial officers Mohandas Pai and V. Balakrishnan, ChrysCapital co-founder Raj Kondur, and Abhay Jain, adviser to Manipal Education & Medical Group. Bengaluru: NGO Akshaya Patra Foundation (APF) has seen four high-profile trustees resign since February — three within the last month — amid speculation of misgivings within the organisation over governance issues. The four trustees are former Infosys chief financial officers Mohandas Pai and V. Balakrishnan, ChrysCapital...

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India’s descent into stepwells of growth -Kaushik Basu

-Livemint.com * Poor handling of the pandemic threatens to derail our competitive advantage in the global economy * India’s economy is well-positioned in IT and outsourcing; health and pharma; and higher education and research, which are sectors expected to be leading drivers of global growth NEW YORK: India’s economy is in a downward spiral. The Economist Intelligence Unit just lowered the forecast for India’s growth in the coming year from -5.8% to -8.5%....

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