Providing last mile credit to consumers has been a shared concern of policy makers and financial intermediaries for long. In the current tightening cycle, this singular issue has been at the centre of attention of not just the central banks but the fiscal policy makers. This was amplified by the RBI Governor's last monetary policy public statement in the current fiscal where he flagged the need for enhancing the last mile credit connectivity to perk up consumer spending to ensure durable growth above the threshold 7% mark while continuing to battle the increase in general price levels to align the headline inflation below the 4% mark.
NBFCs have played a seminal role in this process. These institutions have supplemented and complemented banks in more ways than one by serving the credit needs of the last mile through endevaours like micro finance and now we have specialised NBFCs in this segment. To put things in perspective, total credit extended by NBFCs in India as on December 2023 is approximately Rs 34 lakh crore, constituting 20% of bank credit. Credit by NBFCs grew at a CAGR of 12% in the past 5-year period outpacing bank credit growth of 10.5%. NBFCs have also done well in financial and profitable metrics, making the business a winwin for customers and lenders.
Bu hikaye UNIQUE TIMES dergisinin March - April 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye UNIQUE TIMES dergisinin March - April 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Giriş Yap
Khajjiar: The Mini Switzerland Marvel
Nestled in the embrace of the Chamba District of Himachal Pradesh, Khajjiar emerges as a picturesque hill station, its natural allure and timeless charm beckoning travelers from far and wide.
Laughter Is A Powerful Medicine
Laughter is a strong medicine. Laughter triggers healthy, physical and emotional changes in the body. Laughter strengthens our immune system, boosts our mood, diminishes pain, and protects us from the damaging effects of stress.
How Can You Collaborate Better with Gen AI to Hone Your Writing Skills...
In the digital age, characterized by rapid technological advancements, the emergence of General Artificial Intelligence (Gen-AI) has sparked debates across numerous disciplines. One area profoundly influenced by AI is the field of writing, where AI-generated content has become increasingly sophisticated. This development prompts a critical inquiry: Is the art of writing becoming obsolete with the advent of Gen AI?
10 Tips to Bring Down Blood Pressure
High blood pressure, also known as hypertension, affects millions worldwide and is a leading risk factor for cardiovascular diseases such as heart attack and stroke. The World Health Organization (WHO) observes World Hypertension Day on May 17th, to create awareness about this dangerous lifestyle condition.
Mahindra 3X0
Do not let the new name confuse you, because this is still the same XUV300 underneath. But with such heavy updates to its styling, features and tech, Mahindra thought it warrants a new name and called it the 3XO.
Glow and Grow with Rosemary
Rosemary, often celebrated for its fragrant culinary delights, is a powerful herb that does more than just flavor our dishes.
"No" Is A Complete Sentence!
There is an unconsciously written screenplay, a written life plan, that every human being builds in his childhood. This life script is sometimes so detrimentally elongated or stretched even towards the end of one's life. This is regarding the so-called life positions or ok-positions that we credit to humans in the early stages of our lives. The standards you set determine the life you get!
A Brief Comparative Analysis Of The New And Old Evidence Act
The amendment to Section 45 of the Indian Evidence Act introduces a specific provision regarding the admissibility of expert opinions on electronic evidence.
From Kochi to Frankfurt The Borderless Autobiography
In the vast literary grounds of rich Kerala, a little boy by the name of C J Yesudasan takes birth as a curious spectator to the glorious years of Malayalam art and artists. In a few years, this seemingly ordinary child with an innate passion for drawing becomes one of the greatest artists to take center stage and uplift the Art of Cartooning to an unrivaled peak.
A Rare Tango
Since both the US greenback and gold are the rival asset classes or 'frenemies' in the safe haven space, it may be one of the reasons for a rare convergence in their price path.