According to Shyam Maheshwari, ‘Private Credit Demand is Extremely Apparent and Necessary for the Growth of the Country’.
According to Shyam Maheshwari, as India’s pandemic battered businesses and economy emerge into a still uncertain next normal, there is an increasing focus on private credit as a fuel to drive business expansion and sustainable long-term growth. This along with traditional lenders such as banks especially PSU banks which have done Yeoman Service for the country during the difficulties of 2020 will be facing greater pressure in 2021 and beyond. Shyam Maheshwari SSG describes the Indian credit market and how it is dominated by private lenders. The Indian credit market has been dominated by banks and non-bank financial companies for a long period. It started with the primary dominance of PSU banks then the private sector banks came along. Still, the credit to GDP ratio is relatively modest and low for the stage of growth of the country. As the economy develops credit intensity would probably increase initially and the need for credit is very much out there. The challenges ...