Why RBI's new Governor Sanjay Malhotra must ease credit, but not too much

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Why RBI's new Governor Sanjay Malhotra must ease credit, but not too much - Business Standard

Quick Summary:

The research doesn’t say it, but my guess is that “India 1,” as the authors term the top consuming class, is financing both the aspirations of “India 2,” and the desperation of “India 3.” The interest payments on the borrowings by the latter two groups is flowing to the first, making it wealthier still.

While lowering the risk weight on consumer credit via microfinance, the Reserve Bank will hopefully remain alive to the risk.

Which would leave poor households more reliant on small-ticket loans that groups of women borrowers can obtain from microfinance firms.