A Piramal Enterprises study reveals that despite financial inclusion efforts, many Indians, especially micro-business owners and the economically weaker sections, still rely on informal lending. COVID-19 exacerbated this trend, with reverse migration and increased agricultural employment driving dependence on moneylenders. The report suggests that NBFCs, with better access to funding and regulatory support, could bridge this gap.
from Banking/Finance-Industry-Economic Times https://ift.tt/IspuqPE
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