Rural Credit Flow During Covid-19 in India
- Author Shilpa
- DOI https://ww
- Country : India
- Subject : Economics
Keywords : Agriculture, Rural Credit, Pandemic, Rural Development.
Abstract
Rural development and agricultural development still India is important components of national development. Several efforts were made for the development of these two sectors during the Five-year plans. Financial support for the investment in various activities of the rural economy with subsidized rates of interest and sometimes with subsidy has been extended to the rural poor. Commercial banks, regional rural banks, cooperative credit institutions, and recently microfinance institutions are involved in delivering rural credit. As in many sectors of the economy, the impact of Covid-19 on rural credit and its consequences has to be analyzed to understand the setback in rural development.
This paper attempts to analyse the impact of the Covid-19 pandemic on the financial sector of the Indian economy, specifically on the rural banking sector. To set the context, it is attempted to estimate the credit potential by aggregating grassroots assessment. The paper also highlights the short-term and long-term refinance during a pandemic. These issues have direct consequences for how the pandemic impacted the rural financial sector which is analyzed in the paper. Finally, attempted to describe the way forward for the Indian credit landscape in terms of the major opportunities and challenges.
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