Despite privatisation of PSU banks, low-cost banking needs digital approach

The scope of banking is much more than can be read from the current rate of credit growth to industry, which has only picked up to 4.1% in October 2021 from a contraction of 0.7% a year ago

Lots of policy and market developments are happening in the Indian credit space--surprisingly when banks have turned cautious about lending. This week rating agency S&P has turned “cautiously optimistic” on Indian banks after a long time. The optimism has a lot to do with the confidence that banks are not lending much. Non-food credit has risen less than one per cent seven months into this financial year from that of March 2021, as per RBI data. 

Just a week before, in a clear indication of how RBI views the banking landscape, it has rejected its own internal group report to allow