Sunday, September 11, 2011

Gimmicks in loaning to the poor

Strange are the ways of the Government. It wanted to distribute INR 10000 to the poor through the Public Sector Banks - a different route for the loan melas. Collective diligence and individual sensitivity are the hallmarks of effective lending to the poor that would create in the short-run alternative livelihoods and enduring assets in the long run. The Regulator, RBI, should take all the required courage to counter this loan distribution, whatever name one chooses to give to it.