Informal Credit in India
Context: Despite nearly universal bank account penetration in India, fresh data (CMIE, Piramal Enterprises) show a sharp shift by poor households towards informal borrowing, due to limited access to formal credit channels. About Informal Credit in India: What Is Informal Credit? Credit from non-regulated entities like moneylenders, pawnshops, friends/family, chit funds. Typically lacks transparency, documentation, …
