India’s textile industry is calling on the government to cut cotton import duties and set up a strategic cotton reserve, saying high cotton prices and falling production are hurting mills. The sector also wants easier credit access to help sustain operations. Together, these steps are aimed at boosting competitiveness against global rivals and keeping production steady.
The RBI has eased branch opening rules for NBFCs, giving gold loan lenders more flexibility to expand their physical footprint. The change is expected to improve the speed and availability of credit for small businesses, farmers, and households, strengthening India’s credit architecture and backing more inclusive, steady economic growth.
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An estimated 3 million bottom-of-the-pyramid borrowers have lost access to formal financing over the past nine months, raising concerns that regulatory tightening is diluting India’s financial inclusion push. The shift appears to be hitting lower-income borrowers hardest, potentially reversing gains made by fintech and lenders in expanding credit access to underserved communities.
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