.....The turmoil in the larger economy has led banks to do what former RBI Deputy Governor, Rakesh Mohan, famously described as “lazy banking”; eschew all risks. Lend to the big boys and invest in government securities. It is this reluctance to go down the food chain and hand-hold the needy — part design, part default — which is now the bane of banking in India. Small businesses and poorer sections of society find it difficult to access credit. Many are forced to borrow at high rates from moneylenders. This finds manifestation in societal tensions and farmer suicides............
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