Mint India’s rural borrowers and small businesses owners may have easier access to credit with public sector banks (PSBs) planning to increase financing to these segments, after the Union finance ministry urged lenders to improve their credit-deposit ratio. The C-D ration indicates how much of a banks' deposit base is being utilized for extending loans. The development may help expedite the revival of the rural economy, which is struggling to reach pre-covid...
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Indian banks gave more home loans than agricultural credit
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...
More »‘0.01%’ street vendors from minority communities benefit from Centre’s loan scheme, finds RTI query -Gaurvi Narang
-ThePrint.in A total of 32.26 lakh loans were disbursed under the PM SVANidhi scheme between June 2020 & May 2022, according to data revealed by the Union Ministry of Housing and Urban Affairs. New Delhi: Only 0.01 per cent street vendors belonging to minority communities have benefitted from the Centre’s PM SVANidhi scheme between June 2020 and May 2022, an Right To Information (RTI) query has revealed. A total of 32.26 lakh loans...
More »Economic lessons for India from the Evergrande crisis in China -Vivek Kaul
-Livemint.com Real estate must contribute more to our economy and that calls for sectoral reforms and cheap homes Over the past few weeks, the financial and economic world has been worried about the likely collapse of Evergrande, the world’s most-indebted real estate company. At the same time, the bigger issue of China’s dependence for growth on its real-estate sector remains. In a working paper titled, Peak China Housing, Kenneth S. Rogoff and Yuanchen...
More »Khori Demolitions: We Are Being Targeted as We Are Poor, Allege Residents -Sumedha Pal
-Newsclick.in The Supreme Court has refused to stay the demolitions of over 10,000 houses in a bid to preserve the forest cover in the locality in Haryana’s Faridabad. On June 7, a bench of the Supreme Court, while hearing a petition on the clearance of encroachment over the Aravalli zone, had ordered the removal of close to 10,000 homes, housing over 1 lakh people in Haryana’s Khori Gaon, near the national capital....
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