Bank credit growth to priority sector slows drastically

Bank credit growth to priority sector slows drastically

Most of priority sector loans are supposed to serve a social purpose and they are meant to ensure that credit flows to those sections of society whom the banks may otherwise neglect. Photo: AFP It’s not just lending to the beleaguered corporate sector that has slowed—bank credit growth to the priority sector too has fallen considerably in recent months. The priority sector includes lending to agriculture, lending to micro and small enterprises in the manufacturing and services sectors, education and low-cost housing loans, loans to the weaker sections of the…

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Report: Obama Department Of Education Drastically Underestimated Student-Loan Debt

Report: Obama Department Of Education Drastically Underestimated Student-Loan Debt

With the media’s focus on the Inauguration and the new president’s first week in office, a recent Wall Street Journal report has gone little noticed. According to the report, on January 13 (just one week before the outgoing administration up and went), the Obama Department of Education dropped a memorandum confessing that it had “overstated student loan repayment rates at most colleges and trade schools.” The “updated numbers” provided by the Department were analyzed by the Journal’s staff, who found that the new data “revealed that the Department previously had…

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