Unemployment is high, informal sector is in shambles: Manmohan Singh
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Unemployment is high, informal sector is in shambles: Manmohan Singh
While addressing at the 'Pratheeksha 2030' Summit on in the national capital on March 02, former prime minister Manmohan Singh said, "Temporary measures by the Government of India and Reserve Bank to paper over the credit problems can not blind us to the looming credit crisis ahead that could affect the small and medium sector." "Unemployment is high and the informal sector is in shambles, a crisis precipitated by the ill-considered demonetisation decision taken in 2016," he added.
"In Kerala and many other states, public finances are in disarray with states having to resort to excessive borrowing, which creates an intolerable burden on future budgets," Manmohan Singh further stated.
Catch the latest update as the Reserve Bank of India (RBI) grants Paytm a second chance, extending the deadline for halting transactions to March 15. Dive into the details of this development and its implications for Paytm and its users. Stay informed with our comprehensive coverage.
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The Reserve Bank of India (RBI) imposes stringent restrictions on Paytm Payments Bank, prohibiting UPI services and deposits after February 29, 2024. Learn more about the regulatory actions and their impact on Paytm's banking operations in this update.
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