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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Bullish on the India story, but banks not helping: MSME sector -K Sunil Thomas
-TheWeek.in Demand funding to recover from pandemic shock Indian businesses are bullish on the economy and India’s growth story, but could do with some help from the banking system. This was the message Indian businesses, especially those from the medium and small scale industries sector, have for the establishment. “When it comes to cost of capital, our banks have not done enough,” said Saket Dalmia, the new president of the PHD Chamber of...
More »Jobless and losing hope: The downturn of India's workforce -Kunal Kumar Kundu
-Deccan Herald The triumvirate of structural, cyclical and policy implementation challenges all have a role to play in this undesirable outcome While India’s unemployment challenge has assumed a worrying proportion and is now being looked at as the most important headwind for the prospect of post-pandemic economic recovery, it was a long time in the making. The triumvirate of structural, cyclical and policy implementation challenges all have a role to play in this...
More »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 »Learning machines -Sukanta Chaudhuri
-The Telegraph Edutech is the white flour and refined sugar of learning The Economic Downturn caused by Covid-19 was the making of one class of business: the edutech industry. The closedown of schools created a need to teach students remotely. The electronic mode was the only possible means. But the way it was adopted prompts deep misgivings. I am actively involved with computer applications in teaching and research. The promise held out by...
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