PMO-led decision-making not working for India and majoritarianism taking it ‘down a dark and uncertain path’, Raghuram Rajan says at OP Jindal lecture in US.
RBI data suggests bad loans issue is anything but resolved and coupled with the larger economic slowdown, bankers’ proclamations can’t be taken too seriously.
Lakshmi Vilas Bank was recently placed under Prompt Corrective Action due to high level of bad loans & negative return on assets for two consecutive years.
Chinese officials emphasised a desire to rejuvenate bilateral ties. Their advice? Don't make the border dispute the focal point; pursue economic relations with an open mindset.
Extreme weather events have impacted 50% of corporate respondents to a recent survey. This underlines the importance of significant action now to increase climate resilience.
Lakhs of people were stranded at beach in heat as crowd control measures apparently failed. At least 14 lakh people were in attendance though police had expected around 10 lakh.
How come Indonesia, Malaysia, Turkey and Sri Lanka remain constitutional, democratic and stable despite Islam and Buddhism respectively, but Pakistan, Bangladesh and Myanmar don’t?
As a person who has lived during Indira Gandhi’s regime, I am alarmed when I see the words “Loan Melas”. During the hey days of bank natinoalisation, in 1970s, PSU banks were lead by the madman Janardhana Pujari. He started loan melas for small borrowers, which amounted to anywhere between Rs.2000 to Rs.10,000. The loan could be got only through a Congress Worker. Only 40% of the money reached the borrower, with the assurance that he need not re-pay the sum. Thus started the story of NPAs in India in the defaults of large number of small borrowers. Now, what will happen to the lending in this Melas under the approving eyes of the FM? Story is only marginally different from that of 1970s – the borrowers are startups, small enterprises and MSMEs. Can banks really service the huge number of small borrowers? Is it cost effective for the banks? Or, are the banks throwing good money after the bad money? As a bank customer, I have a right to worry.
Any thing could be sir
As a person who has lived during Indira Gandhi’s regime, I am alarmed when I see the words “Loan Melas”. During the hey days of bank natinoalisation, in 1970s, PSU banks were lead by the madman Janardhana Pujari. He started loan melas for small borrowers, which amounted to anywhere between Rs.2000 to Rs.10,000. The loan could be got only through a Congress Worker. Only 40% of the money reached the borrower, with the assurance that he need not re-pay the sum. Thus started the story of NPAs in India in the defaults of large number of small borrowers. Now, what will happen to the lending in this Melas under the approving eyes of the FM? Story is only marginally different from that of 1970s – the borrowers are startups, small enterprises and MSMEs. Can banks really service the huge number of small borrowers? Is it cost effective for the banks? Or, are the banks throwing good money after the bad money? As a bank customer, I have a right to worry.