Economy

ThePrint’s deep-researched story tells the reality of the severe financial crunch that the Indian states face. The combined effects of the economic contraction due to the lockdowns, the additional spending on anti-Covid measures and reduced GST compensation have left them gasping for funds. The story goes deeper into the structure and shape of the state government finances and sheds light on the financial relations between the Centre and states, an important aspect of India's federalism.

The Ken reported on the conflicts of interests involved in the launch of 'Sahay', an app to facilitate lending to MSMEs, which were hit badly by the nationwide lockdowns. The story showed how, the very players involved in the creation of rules were also the market participants. Following the story, the launch of 'Sahay' was scrapped amidst weak market conditions for MSME lending.

The Ken reported on how private banks are taking advantage of poor financial literacy to mis-sell financial products to retail customers who have no use for them. The story profiles the case of a poor family which was mis-sold a credit card, a current account and life insurance among other products. The story helped direct attention to an issue that is rarely talked about and poorly studied even by the banking regulator.