KEY TRENDS • Oxfam India's 2023 India Supplement report on poverty and inequality in India reveals that the gap between the rich and the poor is widening. Following the pandemic in 2019, the bottom 50 per cent of the population have continued to see their wealth chipped away. By 2020, their income share was estimated to have fallen to only 13 per cent of the national income and have less than 3...
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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 »Pradyut Bordoloi, Congress parliamentarian who introduced the Climate Migrants (Protection and Rehabilitation) Bill as a private member’s bill, interviewed by Arunabh Saikia (Scroll.in)
-Scroll.in An Assam MP explains why he introduced the Climate Migrants (Protection and Rehabilitation) Bill in Lok Sabha. According to the Internal Displacement Monitoring Centre, nearly five million Indians were forced to leave their homes because of climate-related events in 2021. While many of these people were displaced temporarily, internal displacement due to climatic conditions stands to be a major challenge for India in the years to come. Rising water levels, according...
More »MSME loan approval rates muted despite 2-fold increase in funding: Report -Anshika Kayastha
-The Hindu Business Line MSMEs face a credit gap of ₹25 lakh crore as formal lenders meet less than 15 per cent of the sector’s requirements Quarterly MSME loan disbursements have increased over two-fold in the last two years, but the approval rate for medium-risk MSMEs has seen no improvement — a reflection of the lender’s low risk appetite, according to venture capital firm BLinC Invest. The increase in disbursements has been made...
More »Need to make agri credit system equitable -Bishwa Bhaskar Choudhary
-The Tribune The agency-wise share indicates that agricultural credit dispensation in the country is heavily dependent on commercial banks and points towards the poor credit delivery capability of cooperative banks and regional rural banks. THE availability of finance is a key driver of progress in any sector. In the case of agriculture, access to adequate credit assumes vital significance since most of the agriculturists are small or marginal farmers. It has been...
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