Mumbai, Aug 20 (ANI): RBI Governor Raghuram Rajan said small businesses must get easier loans via collateral security in financial capital on Thursday. Rajan also expressed concerns over debt recovery process and said it requires a systemic change. While highlighting the monsoon trends he insinuated that rural demand could rebound eventually driving the growth of the economy. In order to promote ease of small business financing via collateral security, Rajan announced small bank finance licenses could be granted by November. In response to a question of ‘outside equity financing’ he said it is an ‘oxymoron’ and doesn’t hold good.
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