The latest concerns from within the MFI industry itself—circulated in a candid plea—paint a grim picture. In several locations, over 30 institutions, including banks, NBFCs, cooperative societies, and informal lenders, are all aggressively lending to the same poor households.
Author: Pradeep Jayan
Pradeep Jayan is a keen oberver of national and international affairs. He writes regulalry on pressing issues that concerns Indians from a global perspective.
India’s Biryani vs. the World’s AI
India must decide whether it wants to be a global technology leader or remain a mere participant in someone else’s game. The path forward requires ambition, investment, and a cultural shift that celebrates meaningful innovation over fleeting conveniences.
Should the RBI Keep Propping Up the Rupee?
A sharply depreciating rupee sends all the wrong messages—higher risks, reduced returns, and an economy struggling to keep up. Left unchecked, it can trigger capital outflows, destabilizing markets and worsening the current account deficit. The RBI’s interventions reassure investors, acting as a firewall against such outcomes.
Opinion: Why multiple lending is a silent killer of Indian microfinance
The distress caused by multiple lending is becoming increasingly evident. Reports of harassment, coercive recovery practices, and even suicides among borrowers in rural India have been on the rise. Karnataka, in particular, has seen a surge in complaints against MFIs, with farmers and other borrowers alleging relentless pressure to repay debts
Opinion: Why US is no longer the promised land for Indians
Developed nations, including the U.S., the U.K., and parts of Europe, are witnessing a rise in nationalist rhetoric and protectionist policies. Visa restrictions, deportations, and barriers to work opportunities for foreign nationals are becoming the norm.
Billionaire wealth soars three times faster by USD 2 trillion in 2024: Oxfam
In its flagship inequity report released every year on the first day of the World Economic Forum Annual Meeting, Oxfam International contrasted the huge jump in the billionaire wealth with the number of people living in poverty barely having changed since 1990.
Adv. Pralhad Kokare elected as Chairman andCA. Yashwant Kasar as Vice Chairman of Cosmos Bank
Returning Officer Mr. Sanjay Raut in
the Board Meeting of the newly elected Board Members. Both were elected unanimously.
GrayQuest raises Rs 80 Crore ($9.3M) in its Series B Equity Funding Round
GrayQuest offers educational institutions a first of its kind, unified payments platform to enable them to digitize & boost their fee collection. It’s platform enables institutions to offer their students & parents multiple tailor-made payment options, including a convenient monthly payment option to pay their annual education fees without bearing any extra costs.
Senior citizen placed under ‘digital arrest’ by online fraudsters, forced to pay Rs 14 lakh
Senior citizen placed under ‘digital arrest’ by online fraudsters, forced to pay Rs 14 lakh
Bengaluru Police Arrest Axis Bank Manager and Three Sales Executives in Rs 97-Crore Stock-Market Fraud
The cyber-crime unit has revealed that 254 cases linked to this scam have been registered across the country. Fraudulent transactions totaling Rs 97 crore were conducted through six bank accounts reportedly opened by bank staff.