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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Top 10% of Urban Indian Households has 7,517 Times the Assets of the Bottom Decile
The average value of assets (AVA) of the top ten percent of urban households in India is more than seven thousand five hundred times greater than what the bottom ten percent owns. The AVA of the top decile was Rs. 1.5 crores, while the lowest decile owned an average of Rs. 2,000 of assets. The data is part of the All India Debt and Investment Survey - 2019, the survey for...
More »Banks eye Rural loan growth to push credit-deposit ratio - Mihir Mishra, Shayan Ghosh
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...
More »RBI concerned about slow deposit growth -Falaknaaz Syed
-Deccan Chronicle Mumbai: The Reserve Bank Of India is concerned about the slow deposit growth and how banks would support double-digit credit growth amidst tightening liquidity. The issue was discussed on Wednesday when RBI governor Shaktikanta Das met managing directors and chief executive officers of Public Sector Banks and key private sector banks. A banker who attended the meeting said, "It was a routine meeting that takes place half yearly. We discussed...
More »Explained: RBI’s concerns on slow deposit growth -Saptaparno Ghosh
-The Hindu Why did senior officials of the apex banking regulator meet the MD and CEOs of public and certain private sector banks? What are the possible reasons for low deposit growth? What is the net status of non-performing assets? Has credit growth risen when compared to the year-ago period? The story so far: The Governor, Deputy Governor and a few other senior officials of apex banking regulator, the Reserve Bank of...
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