Bad debt fear keeps private banks away from street vendor loans

Last week, a branch manager of a leading state-run bank in Madhya Pradesh wrote to the municipal commissioner seeking “cooperation” as several of the 160 street vendors, who were given loans under the PM SVANidhi scheme, had not paid a single instalment, turning them into non-performing assets (NPAs).

from Banking/Finance-Industry-Economic Times https://ift.tt/3mPx3Fl