Swiss Finance Institute Research Paper No. 20-38, Journal of Financial Intermediation, Forthcoming, Available at SRN: https://ssrn.com/abstract=3588453 or http://dx.doi.org/10.2139/ssrn.3588453 7 Includes lending through online platforms and mobile apps 6  7  crore via physical mode), for NBFCs, a higher proportion of lending ₹ lakh crore via digital mode vis-à-vis ₹ lakh crore via physical mode) is being routed through digital mode 8.
A healthy catching-up process is not a zero sum game, it is a win-win situation, as those countries which are already more productive can benefit from increased trade and investment opportunities. Crucially, EMU increases the chances of achieving such a welcome outcome.