Subbarao: Banning Informal Moneylenders Fails Without Providing Alternative Credit Sources
Duvvuri Subbarao · IAS Turned RBI Governor: Duvvuri Subbarao On CM Chandrababu Naidu, IAS Eligibility Criteria & More · May 31, 2024 · at 47:32
Former RBI Governor and IAS officer Duvvuri Subbarao reflects on lessons learned while enforcing protective tribal land regulations in Andhra Pradesh.
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“So I realized in my young days that youthful enthusiasm will not do. You've got to understand the problem. You just cannot say that I'll remove money lenders. You've got to ensure that there's an alternate source of revenue for them, a loan for them. You've got to improve their livelihood.”
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