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Expanding Access To Bank Credit By Building The NBFC Periphery
The current approach is making NBFCs safer but requiring banks to become riskier, write Nachiket Mor and Dwijaraj Bhattacharya.
08 Mar 2021, 08:38 AM IST
In the 70 years since independence, it is clear that we in India have done a poor job of expanding access to credit, in terms of availability, in ensuring consistent risk-based pricing, and in providing good product designs. While most well-run financial systems, such as in the United Kingdom and Australia, report credit-to-GDP ratios exceeding 150%, in India not only is the aggregate number low at 60%, but it ranges from an estimate...
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