Understanding Credit Crisis

Explains current credit crisis in USA and around the world with the help of simple animation and video.

A credit crunch (credit crisis) is a reduction in the general availability of loans (credit) or a sudden tightening of the conditions required to obtain a loan from the banks. A credit crunch generally involves a reduction in the availability of credit independent of a rise in official interest rates. The following video explains credit crisis in simple terms with the help animation. The goal of giving form to a complex situation like the credit crisis is to quickly supply the essence of the situation to those unfamiliar and uninitiated.

In India, thinking big by thinking small

International Herald Tribune has very nice story. The story is all about rural Indians. One in nine human beings is an Indian villager, and 70 percent of Indian villagers have no bank account, inhabiting a financial parallel universe in which savings are a gold necklace and loans come from pistol-packing moneylenders. Over 700 million people don’t have accounts or savings. This story covers how ICICI bank is going to change all this. Indeed very well written. But more important if we really wanna see growth of all of our Indians then we need to take approach like this one.
Full article here.