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How the accumulation of debt during the Covid-19 pandemic is hurting India’s low-income households Household-debt-to-GDP ratio increased to 37.1% in the second quarter of 2020, The debt levels of daily wage workers around the country have increased, surveys show. | Punit Paranjpe/ AFP Six years ago, 24-year-old Munna Kumar Singh and his family migrated to Delhi from a small town in Bihar, where he worked in a denim factory in the city’s Udyog Vihar for a monthly salary of Rs 9,000. He is the sole breadwinner in the family of four. He also tries to send a small remittance to those at home in Bihar. When he lost his job with last year’s lockdown to curtain the spread of Covid-19, Singh struggled to make ends meet. He ended up borrowing extensively from informal channels. He is now over Rs 50,000 in debt with no stable income to repay his loans. ....
RBI article calls for monitoring movement of funds between banks and ARCs April 27, 2021 × Banks not just major shareholders of and lenders to Asset Reconstruction Companies but also sellers of non-performing assets to them It may be necessary to monitor if there is a circuitous movement of funds between banks and Asset Reconstruction Companies (ARCs), according to an article in the Reserve Bank of India’s latest monthly bulletin. This observation comes in the backdrop of banks being not just major shareholders of and lenders to ARCs but also sellers of non-performing assets (NPAs) to them, it added. A movement of this kind can have implications for the genuine sale of NPAs and the overall growth of the ARC industry, said RBI officials Amarnath Yadav and Pallavi Chavan from the Department of Supervision, in the article. ....
India must find ways to kickstart investment: RBI It further highlighted that there is an urgent need to kickstart investments to make sure the economic recovery, which is getting stronger with every passing month, is sustainable. Share Via Email | A+A A- By Express News Service NEW DELHI: Ahead of the Union Budget 2021, the Reserve Bank of India (RBI) in its monthly bulletin on Thursday said that capital infusion and “innovative” ways of dealing with loan delinquencies will occupy policy attention in order to ensure that finance greases the wheels of growth on a durable basis. It further highlighted that there is an urgent need to kickstart investments to make sure the economic recovery, which is getting stronger with every passing month, is sustainable. ....
Small Finance Banks have greater presence in well-banked States, says RBI report January 21, 2021 SFBs penetration in the North-Eastern region remains low Small Finance Banks (SFBs) have greater concentration of branch network in relatively well-banked States, according to an assessment in the Reserve Bank of India’s (RBI) latest monthly bulletin. While there has been a rapid growth in the branch network of SFBs since their inception, this growth has been markedly concentrated in the Southern, Western and Northern regions, which are known as the relatively well-banked regions in the country, RBI officials Richa Saraf and Pallavi Chavan said in an article in the bulletin. ....
Small finance banks branches concentrated in urban, semi-urban areas; NPA ratio moderate: RBI paper There has been a rapid growth in the branch network of SFBs since their inception, but the growth has been concentrated in southern, western and northern regions, which are relatively well-banked regions in the country BusinessToday.In | January 21, 2021 | Updated 15:47 IST RBI had issued licensing guidelines for SFBs in 2014 The branches of small finance banks (SFBs) are concentrated in urban and semi-urban areas and the limited spread in rural and smaller semi-urban centres leaves much to be desired, a RBI paper has said. There has been a rapid growth in the branch network of SFBs since their inception, but the growth has been concentrated in southern, western and northern regions, which are relatively well-banked regions in the country. Their penetration in the north-eastern region, known as the least banked region, remains low. ....