The pace of India’s economic recovery has slowed down significantly after the second wave of the Covid-19 pandemic. Banks in the country have turned cautious after the second wave and have tightened lending even as companies and individuals are seeking more credit. At the moment, banks in the country have turned cautious due to a jump in loan defaults following …
The Economic Survey 2019 delves into religion and mythology to provide a theological basis against loan defaults and for the uplift of women. “In India, where social and religious norms play such a dominant role in influencing behaviour, behavioural economics can provide a valuable instrument for change,” the Survey said. The Survey quoted Prophet Muhammed as having said: “O Allah, …
