NEW DELHI - Struggling to keep from falling behind on the rent for his street stall, Mr Pradeep Kumar applied for a loan of 20,000 rupees (S$348) two months ago even though he was already 300,000 rupees in debt.
As inflation rises in India, hitting 7 per cent this year, the 65-year-old street vendor hopes desperately that the loan will help tide him over his immediate difficulties, the result of price rises after two years of disruptions caused by the Covid-19 pandemic.
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