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Most banks not big on small personal loans
Credit: IndiaTimes- Published on November 5, 2023
Bank chiefs have expressed concerns about the stress in unsecured loans, particularly in the fintech-driven digital lending of small-ticket personal loans. There is an expectation that the Reserve Bank of India (RBI) may make it more difficult for banks to lend to this segment, which is considered riskier. The State Bank of India...
Video credit: Wibbitz Top Stories
Published on November 8, 2023 - 01:31
US Debt On Track to Increase by $5.2 Billion Per Day for the Next Decade
US Debt On Track to Increase, by $5.2 Billion Per Day , for the Next Decade.
Insider reports that the United States government
is on track to exceed $50 trillion in debt by 2033,
according to a November 7 note from Bank of America.
Bank of America cited data from
the Congressional Budget Office. .
Currently, U.S. public debt
is standing at $33.6 trillion.
According to Bank of America's investment strategist,
Michael Hartnett, "fiscal excess in the 2020s" will cause
the debt to surge by $20 trillion within the next decade.
According to Bank of America's investment strategist,
Michael Hartnett, "fiscal excess in the 2020s" will cause
the debt to surge by $20 trillion within the next decade.
U.S. public debt is... more than
the combined GDPs of China,
Japan, Germany and India, Michael Hartnett, Bank of America
investment strategist, via Insider.
Insider reports that Hartnett added
that U.S. outstanding debt is set to increase
by $5.2 billion every day for the next decade.
That's about $218 million
in new debt every hour. .
The Treasury Department has already had to auction
off trillions in fresh bonds after the federal deficit
jumped $320 billion to reach $1.7 trillion in 2023.
In October, estimated annualized debt
interest payments exceeded $1 trillion. .
Likely central banks may simply
bail out governments in coming
years via quantitative easing and
the introduction of yield curve
control (policies that would
be U.S. dollar negative), Michael Hartnett, Bank of America
investment strategist, via Insider.
Likely central banks may simply
bail out governments in coming
years via quantitative easing and
the introduction of yield curve
control (policies that would
be U.S. dollar negative), Michael Hartnett, Bank of America
investment strategist, via Insider