India's pvt credit-to-GDP ratio lowest among peers; govt working on framework: NITI Aayog CEO
4 years ago

India's pvt credit-to-GDP ratio lowest among peers; govt working on framework: NITI Aayog CEO

India TV News  

Niti Aayog CEO Amitabh Kant on Saturday said India's private credit-to-GDP ratio is the lowest among its global peers and the government is in the process of putting in place a framework for a credit push towards untapped segments. Addressing a virtual event organised by the Global Alliance for Mass Entrepreneurship, Kant said credit scenario in India in recent years for a greater part has been seen as a drag on the economy. Kant also said micro, small and medium enterprises play a crucial role in providing employment but their credit needs are largely unmet by the formal financial sector. Kant also said the government has been pushing faster formalisation of the economy and on credit fronts, the government has taken several key steps.

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History of this topic

India: MSMEs Need Boost in Credit Access: Assocham
3 weeks, 5 days ago

India: MSMEs Need Boost in Credit Access: Assocham

Deccan Chronicle  

New Delhi: In order to boost credit access for small and medium businesses in the country, India Inc on Thursday called for enhancing the role of banks and other financial institutions to reach them and address their challenges. Leading industry body Assocham in collaboration with Egrow Foundation, conducted an in-depth study on 'MSMEs facing challenges with a quantitative data of …

India's GDP growth moderates to 6.7% in Q1 2024-25, lowest growth in five consecutive quarters
3 months, 3 weeks ago

India's GDP growth moderates to 6.7% in Q1 2024-25, lowest growth in five consecutive quarters

Hindustan Times  

India's Gross Domestic Product moderated to 6.7% during the first quarter of the financial year 2024-25, compared to the 8.2% growth seen in the same quarter of the previous year, according to the data released by the Ministry of Statistics and Programme Implementation on Friday, August 30, 2024. India's GDP moderates to 6.7% in Q1 2024-25 {{^userSubscribed}} {{/userSubscribed}} {{^userSubscribed}} {{/userSubscribed}} …

MSMEs still out of mainstream institutional credit, shows survey
4 months ago

MSMEs still out of mainstream institutional credit, shows survey

Deccan Chronicle  

Hyderabad: In a downturn when tighter monetary conditions affect governments and companies, small and medium sized businesses bear brunt as the resultant delay in bill payments squeezes these enterprises financially. Though several measures were taken by the government and the Reserve Bank of India, micro, small and medium scale enterprises are perennially starved of institutional credit. Though the government has …

NABARD estimates ₹3.97 lakh crore credit potential for Karnataka in 2024-25
10 months, 3 weeks ago

NABARD estimates ₹3.97 lakh crore credit potential for Karnataka in 2024-25

The Hindu  

National Bank for Agriculture and Rural Development has estimated the credit potential for Karnataka at ₹3.97 lakh crore for 2024-25. The credit potential for the agriculture sector, including the farm credit of ₹1,54,11738.36, has been estimated at ₹1.85 lakh crore. PLPs for all 31 districts NABARD prepared Potential Linked Credit Plans for all 31 districts of the State after detailed …

The Need to Bolster Institutional Low-Cost Credit to MSMEs
10 months, 3 weeks ago

The Need to Bolster Institutional Low-Cost Credit to MSMEs

News 18  

The Micro, Small and Medium Enterprises are critical to unlocking the potential of India envisioned under the ‘Make in India’ campaign. The Parliamentary Standing Committee on Finance, in its report titled ‘Strengthening Credit Flows to the MSME Sector’, exposes the fact that less than 40 per cent of MSMEs avail credit from formal financial systems, and therefore depend on costly …

Sanjaya Baru | How we view ourselves and how the world views India
1 year, 3 months ago

Sanjaya Baru | How we view ourselves and how the world views India

Deccan Chronicle  

By the end of this week the world’s attention will be focused on India. Given all the hype and hoopla, it is not surprising that a whopping 68 per cent of Indians surveyed by the American opinion polling agency Pew Research Centre said that India was “getting stronger”. The advice is from the Mahabharata -- “Aswathama Hatha Kunjara!” So, yes, …

Credit to MSMEs gathers pace, but needs a tech push
2 years, 2 months ago

Credit to MSMEs gathers pace, but needs a tech push

Live Mint  

Bank credit to micro, small and medium enterprises has fluctuated for most of the pandemic. Traditionally, public sector banks led credit disbursement to MSMEs, with a 50% share prior to 2019. iPhone sales in India headed for another record IT companies likely to slash campus hiring in FY24 What lies next for India’s shaky exports story Marico’s Q2 update fails …

Innovations can plug the growth capital gap of MSMEs
2 years, 5 months ago

Innovations can plug the growth capital gap of MSMEs

Live Mint  

India has over 7.9 million micro, small and medium enterprises, as of 27 March 2022, as reported by the MSME Ministry. The credit gap translates into a ‘growth capital gap’, especially for innovative and high-growth MSMEs seeking a radical pivot in their business models or overseas expansion. While RBI will need to make it mandatory for all MSMEs and large …

Need to double infra spending: Seth
3 years, 2 months ago

Need to double infra spending: Seth

The Hindu  

India needs to double its infrastructure spending and the private sector must step up and partner with the government, Economic Affairs Secretary Ajay Seth said on Monday, adding that the ministry was actively working on the Gati Shakti vision outlined by the Prime Minister. Mr. Seth said that work was apace on operationalising the ₹111 lakh crore National Infrastructure Pipeline …

India's GDP growth turns positive, but experts caution against celebrating 0.4% growth
3 years, 9 months ago

India's GDP growth turns positive, but experts caution against celebrating 0.4% growth

India Today  

Though India’s economic health continues to slowly improve, a comprehensive recovery is yet to be seen. It had contracted by 23.9 per cent in April-June 2020 and by 7.5 per cent in July-September 2020; in the October-December 2020 period, it grew 0.4 per cent. The Finance Ministry’s Economic Survey 2020-21 projects that India’s real GDP growth in FY22 will be …

Parliament proceedings | Banks' NPAs decline to ₹8.08 lakh crore in Sept 2020: Govt
3 years, 10 months ago

Parliament proceedings | Banks' NPAs decline to ₹8.08 lakh crore in Sept 2020: Govt

The Hindu  

Non-performing assets or bad loans of the banking sector came down from a high of ₹10.36 lakh crore at the end of March 2018 to ₹8.08 lakh crore at the end of September 2020 due to various initiative of the government, Minister of State for Finance Anurag Thakur informed the Rajya Sabha on Tuesday. As a result of the Asset …

Banks' NPAs in Large Industry, Services Fall 31 per cent in Over Two Years to Rs 4.36 Lakh Crore
4 years, 3 months ago

Banks' NPAs in Large Industry, Services Fall 31 per cent in Over Two Years to Rs 4.36 Lakh Crore

News 18  

Banks' non-performing assets in large industry and services declined 31 per cent in over two years to about Rs 4.36 lakh crore in June this year, Parliament was informed on Monday. "As per Reserve Bank of India data on domestic operations, NPAs of scheduled commercial banks pertaining to large industry and services have come down to Rs 4,36,492 crore as …

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