In each of the last three years – from 2020 through 2022 – Indian banks lent more money to retail customers purchasing homes than they did to farmers. In fiscal year (FY)2021-22 commercial banks gaveRs. 17.54 lakh crore worth of housing loans, while agriculture and allied activities got Rs. 15.16 lakh crore. That is nearly 14 percent less. In FY 2021 and FY 2020 – one of which saw a...
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Public sector banks have ensured financial inclusion, finds a new empirical study
Are public sector banks (PSBs) important for the economy? Have the PSBs served the purpose for which they were created? Could the PSBs compete efficiently against the private sector banks (PVBs)? These are some of the questions, which have been answered by a chapter in the RBI Bulletin's August edition. Efficiency of PSBs Co-authored by Snehal S Herwadkar, Sonali Goel, and Rishuka Bansal (2022) of the Banking Research Division, Reserve Bank of...
More »Are Loan Waivers Not 'Freebies' to Corporates, Asks DMK In Application Before SC
-TheWire.in In an application seeking to implead itself in the 'freebies' petition, the party said in its first three years, the Narendra Modi government wrote off loans worth Rs 72,000 crore of the Adani Group. New Delhi: The Dravida Munnetra Kazhagam (DMK), the ruling party of Tamil Nadu, said the petition on “freebies” is politically motivated and asked if the BJP-led Union government’s move to waive off loans of companies is not...
More »Migrants’ livelihoods during the pandemic: Challenges and opportunities -Dr. Janvi Gandhi Kanakia and others
-Leaflet.in Informal migrant workers in metropolitan cities of India have faced multiple forms of vulnerabilities in the last two years of the pandemic. Linkages across schemes for such workers are absolutely critical to creating a social security net that protects them from falling into similar cycles of poverty and destitution during macro and micro economic distresses. ON the occasion of International Labour Day, or ‘May Day’, we explore the dimensions of vulnerabilities...
More »Contrasting rules for farm, Corporate Loans -Devinder Sharma
-The Tribune While many of the big defaulters have escaped abroad, why is it invariably a farmer (or a small borrower) who is left to face ill-treatment and injustice in the loan recovery process? While the big defaulters are treated with kid gloves, farmers are always treated with a different yardstick, as if they are children of a lesser god. WHILE the Punjab State Cooperative Agricultural Development Bank (PADB) has issued arrest...
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