With predatory digital lending practices drawing attention, it’s crucial to look at the funding and regulatory environment within which the sector operates.
RBI has made it more costly to lend & borrow unsecured loans. One reason is financial risk these loans can pose, while another is harassment of borrowers by recovery agents.
Urban consumers are more optimistic about current economic conditions, while those in rural India are more so about expectations of 1-yr ahead income, economic & business environment.
Assessments of 'current general economic situation' have been improving steadily over past couple of years, but the index remains no higher than in late 2019, when economic slowdown set in.
In its monetary policy statement, the RBI projected the real GDP growth for the current fiscal at 6.5%, while the retail inflation was projected at 5.4%.
After a 7.8% expansion last quarter, economic growth was expected to moderate to 6.4% this quarter and then drop to 6.0% innext quarter before slowing to 5.5% in early 2024.
RBI has issued consolidated rules on wilful defaulters, dealing with their definition and treatment, including when the controversial compromise settlement process is involved.
Central bank has issued new rules regarding quick release of loan-related asset documents, which are expected to benefit borrowers, especially homeowners.
The RBI observed that many lenders charge penal rates over and above the applicable interest rate on loans in case of defaults that breach the terms of credit facilities.
RBI piloted Central Bank Digital Currency, or e-rupee, last November and now hopes to ramp up its use through UPI. But experts say lack of awareness and adoption are obstacles.
The distinctiveness of her writing is evident in her compositions—women, shudras, and atishudras are at the center. Her poetry challenges the aesthetics of 'modern' Marathi literature.
With bad loans shrinking & capital buffers stronger, urban co-op banks’ new umbrella body NUCFDC is now prioritising rollout of digital transformation.
If deal goes through, Greece will be 2nd foreign country to procure vehicle. Morocco was first; TATA Group has set up manufacturing unit there with minimum 30 percent indigenous content.
Many of you might think I got something so wrong in National Interest pieces written this year. I might disagree! But some deserve a Mea Culpa. I’d deal with the most recent this week.
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