Banking

My article on Regional Rural Banks published in Business Standard on 16-06-2025 https://www.linkedin.com/posts/shivbsingh_my-article-on-regional-rural-banks-published-activity-7340615294811312128-lJ8E?utm_medium=ios_app&rcm=ACoAAANneyoB-NANVw3ipVrZM-xoP7qvijOHpdY&utm_source=social_share_send&utm_campaign=copy_link

 I have received some comments from some of my connections on incidence of poverty of India . Without going into the details, I am sharing some of the initiatives of last decade, which have improved the lives of people of lowest strata of society. Few pointers which can substantiate the reduction in incidence of poverty may be: I- Highly subsidised PM Gramin Awas Yojana to close to 3.5 cr families with average of 4 members benefitting 14 cr people, who have saved a lot on annual maintenance of houses and losses due to rains and storms, thus increasing their disposable income. Similarly close to 3 cr housing units under PM Sahari Awas Yojana benefitting 12 cr people. 2- Electrification of all villages (excluding some small hamlets) has increased their working hours.  3- With rapid expansion of Self Help Groups under NRLM and NULM with close to one crore groups having 10 cr members impacting close to 40 cr people. 4- Interventions social, educational, medical and financial in id...

 INDIAN GROWTH STORY- NEW INTERNATIONAL     POVERTY LINE  World Bank introduced the concept of International Poverty Line in 1990 to capture the daily cost for a person to meet their basic needs, which was fixed at $ 1 for low income group. This limit was revised in 2008, 2015, 2022 and recently in 2025 taking it to $ 3 from $ 2.15. The same is now $ 4.20 and $ 8.40 raised from $ 3.65 and $ 6.85 respectively for Lower Middle Income Countries (LMIC) and Upper Middle Income Countries (UMIC) respectively. World Bank, in its Spring 2025-Poverty and Equity Brief, highlighted India’s significant leap in reduction of extreme poverty from 16.20% in 2011-12 to 2.30% in 2022-23 at $ 2.15 per day per person with absolute reduction of 170 million from 205 million in 2011-12 to 34 million in 2022-23. Even at current extreme poverty line of $ 3, it is at 75 million which is 5.25% thus effectively uplifting 121 million people. With the perspective of Lower Middle Income Countries (...