Microcredit: Lifeline of a Farmer

Microcredit is basically the provision of thrift, credits and other financial benefits to the very poor in the society. This in turn gives them the ability to be independent and take good care of their families. Microcredit is a way of creating entrepreneurship among the poor...

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Microfinance

In 2007, India experienced a commendable growth-rate of over 9% and in 2008, above 7%, thus becoming the fastest growing economy, only second to China. However, this growth has not translated into better standards of living...

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Growth of Banking and Development in India

The world’s second largest populated country, India, is the apple of the eye for the world now. The world economies are seeing it as their potential market. This has been going on since quite some time now, ever since 1991 reforms of liberalization, globalization and privatization...

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THE POOR MAN’S BANK

The microfinance sector in India is still in the process of development. Though self-help groups have come up in various parts of the country, the sector is largely unorganized as of now. Both microfinance institutions and self-help groups...

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RBI Slashes CRR

The Reserve Bank of India has decided to slash the Cash Reserve Ratio (CRR) by half a percent or 50 basis points thus bringing it down to 8.5%. The move has been taken in order to release cash into the system so that banks find it easier...

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Financial System for the Elderly

The old people should be self sufficient as in today’s time and ironically, they are among the most vulnerable groups in India. A dominant trend amongst Indians is usually to invest their funds in health, housing etc, and to save very little for the old age...

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The ATM Revolution!

RBI has taken serious and effective measures to simplify and popularize the plastic money. RBI has made the ATM service free for all the customers of the same bank with immediate effect. Also, balance enquiry has been made free of charge from all the banks’ ATMs with immediate effect...

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HDFC Merger with CBoP

The expected merger of the HDFC Bank with the Centurion Bank of Punjab (CBoP) is believed to broaden the scope and reach of HDFC by crediting to its already well-distributed network. The HDFC Bank, which currently spans India with its chain of 746 branches, will add to itself...

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Microfinance –A Small Idea With A Big Impact

“Growth alone is not enough if it does not produce a flow of benefitsthat are sufficiently wide-spread. We, therefore, need a growth process that is muchmore inclusive” This is what our Prime Minister, Dr. Manmohan Singh proclaimed in a speech on the eve of declaring the Budget last year. In the...

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Subprime Crisis and the Impact on India

As interest rates started falling due to excess liquidity, house prices started rising rapidly, creating a pool of wealth in the hands of Americans, which they unlocked by contracting mortgage loans. It benefited them in two ways — they got huge liquidity at inflated housing prices and at interest...

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