Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 73
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 73
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 74
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 74
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

                trigger_error($message, E_USER_WARNING);

            } else {
$response = object(Cake\Http\Response) {

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-TheHoot.org&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;Maharashtra&amp;rsquo;s farm daily Agrowon offered a counter to the SBI chief, the RBI governor, and English newspapers critical of the UP farm loan waiver.&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
The Marathi agriculture daily Agrowon has criticized both the RBI governor Urjit Patel and State Bank of India&amp;rsquo;s Arundhati Bhattacharya&amp;nbsp; who have objected to the farm&amp;nbsp; loan waiver in Uttar Pradesh and similar demands elsewhere. The paper&amp;rsquo;s line is quite different from that of the mainstream English press which has been sharply critical of Yogi Adityanath&amp;rsquo;s Rs 36,359 crore munificence. &lt;br /&gt;
&lt;br /&gt;
Patel is quoted as having said, &amp;quot;I think it (loan waiver schemes) undermines an honest credit culture. It impacts credit discipline. It (impacts) incentives for future borrowers to repay. In another words, waivers engender moral hazard,&amp;quot; he said after announcing the first bi-monthly monetary policy for 2017-18.&lt;br /&gt;
&lt;br /&gt;
He added that debt waivers also entail transfers from taxpayers to borrowers.&amp;nbsp; Then there was more. &amp;quot;If on account of this overall government borrowing goes up, yields on government bonds also get impacted. Thereafter, it can also lead to crowding of the private borrowers as higher government borrowing can lead to increasing cost of borrowing for others.&amp;rdquo;&lt;br /&gt;
&lt;br /&gt;
Agrowon responded in an editorial:&amp;nbsp; &amp;ldquo;The chief of&amp;nbsp; the State Bank of India Arundhati Bhattacharya has made a statement against the farmers&amp;rsquo; loan waiver saying that farmers&amp;rsquo; should not be given loan waiver because that disturbs the credit discipline. Following this the Governor of Reserve Bank of India Urjit Patel has also opposed the farmers&amp;rsquo; loan waiver saying that would disturb the honest credit culture. These high level persons are opposing the move when at the highest level pro-farmer considerations are going on and demand for loan waiver is being put forth in many states.&lt;br /&gt;
&lt;br /&gt;
It adds, &amp;ldquo;In fact banks which were formerly limited for serving big industrialists were twice nationalized in order to provide benefits to farmers and common citizens. But these banks are providing credit to big industrialists thereby disturbing the very spirit of nationalization. The banks have two-fold policy of doing favour to big borrowers and disregarding any relief or due credit to farmers.&amp;rdquo; &amp;nbsp;&lt;br /&gt;
&lt;br /&gt;
The paper adds that&amp;nbsp; banks have followed one criteria while providing credit and waiver of loans to big industrialists and the other negative one for farmers and this amounts to double standards on the part of the banks. &amp;ldquo;There are large number of cases in the country wherein crores of rupees loans are given by banks sidetracking due rules and regulations. When these loans are not repaid they are shown as NPAs and later they are written off to clear the balance sheets. This process is going on every year. These written off cases are nothing but clear loan waivers.&amp;rdquo;&lt;br /&gt;
&lt;br /&gt;
It goes on to say that this &amp;lsquo;writing off&amp;rsquo; process reduces dividend of banks&amp;rsquo; shares and incurs loss to the government. On the contrary when farmers are given loan waiver the amount is paid by the government without any loss to the banks and on the contrary their profits are increased.&lt;br /&gt;
&lt;br /&gt;
Agrowon ends by saying that it should &amp;ldquo;therefore be noted that farmers are repaying their loans and only due to natural calamities and also some anti-farm government policies their monetary conditions are perturbed resulting in crisis.&amp;rdquo; &amp;nbsp;&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;http://www.thehoot.org/media-watch/regional-media/do-farmers-disturb-credit-culture-more-than-industry-10049&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
&lt;/div&gt;&#039;,
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-TheHoot.org

Maharashtra&amp;rsquo;s farm daily Agrowon offered a counter to the SBI chief, the RBI governor, and English newspapers critical of the UP farm loan waiver.

The Marathi agriculture daily Agrowon has criticized both the RBI governor Urjit Patel and State Bank of...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;-TheHoot.org&lt;br /&gt;&lt;br /&gt;&lt;em&gt;Maharashtra&amp;rsquo;s farm daily Agrowon offered a counter to the SBI chief, the RBI governor, and English newspapers critical of the UP farm loan waiver.&lt;br /&gt;&lt;/em&gt;&lt;br /&gt;The Marathi agriculture daily Agrowon has criticized both the RBI governor Urjit Patel and State Bank of India&amp;rsquo;s Arundhati Bhattacharya&amp;nbsp; who have objected to the farm&amp;nbsp; loan waiver in Uttar Pradesh and similar demands elsewhere. The paper&amp;rsquo;s line is quite different from that of the mainstream English press which has been sharply critical of Yogi Adityanath&amp;rsquo;s Rs 36,359 crore munificence. &lt;br /&gt;&lt;br /&gt;Patel is quoted as having said, &amp;quot;I think it (loan waiver schemes) undermines an honest credit culture. It impacts credit discipline. It (impacts) incentives for future borrowers to repay. In another words, waivers engender moral hazard,&amp;quot; he said after announcing the first bi-monthly monetary policy for 2017-18.&lt;br /&gt;&lt;br /&gt;He added that debt waivers also entail transfers from taxpayers to borrowers.&amp;nbsp; Then there was more. &amp;quot;If on account of this overall government borrowing goes up, yields on government bonds also get impacted. Thereafter, it can also lead to crowding of the private borrowers as higher government borrowing can lead to increasing cost of borrowing for others.&amp;rdquo;&lt;br /&gt;&lt;br /&gt;Agrowon responded in an editorial:&amp;nbsp; &amp;ldquo;The chief of&amp;nbsp; the State Bank of India Arundhati Bhattacharya has made a statement against the farmers&amp;rsquo; loan waiver saying that farmers&amp;rsquo; should not be given loan waiver because that disturbs the credit discipline. Following this the Governor of Reserve Bank of India Urjit Patel has also opposed the farmers&amp;rsquo; loan waiver saying that would disturb the honest credit culture. These high level persons are opposing the move when at the highest level pro-farmer considerations are going on and demand for loan waiver is being put forth in many states.&lt;br /&gt;&lt;br /&gt;It adds, &amp;ldquo;In fact banks which were formerly limited for serving big industrialists were twice nationalized in order to provide benefits to farmers and common citizens. But these banks are providing credit to big industrialists thereby disturbing the very spirit of nationalization. The banks have two-fold policy of doing favour to big borrowers and disregarding any relief or due credit to farmers.&amp;rdquo; &amp;nbsp;&lt;br /&gt;&lt;br /&gt;The paper adds that&amp;nbsp; banks have followed one criteria while providing credit and waiver of loans to big industrialists and the other negative one for farmers and this amounts to double standards on the part of the banks. &amp;ldquo;There are large number of cases in the country wherein crores of rupees loans are given by banks sidetracking due rules and regulations. When these loans are not repaid they are shown as NPAs and later they are written off to clear the balance sheets. This process is going on every year. These written off cases are nothing but clear loan waivers.&amp;rdquo;&lt;br /&gt;&lt;br /&gt;It goes on to say that this &amp;lsquo;writing off&amp;rsquo; process reduces dividend of banks&amp;rsquo; shares and incurs loss to the government. On the contrary when farmers are given loan waiver the amount is paid by the government without any loss to the banks and on the contrary their profits are increased.&lt;br /&gt;&lt;br /&gt;Agrowon ends by saying that it should &amp;ldquo;therefore be noted that farmers are repaying their loans and only due to natural calamities and also some anti-farm government policies their monetary conditions are perturbed resulting in crisis.&amp;rdquo; &amp;nbsp;&lt;br /&gt;&lt;br /&gt;Please &lt;a href=&quot;http://www.thehoot.org/media-watch/regional-media/do-farmers-disturb-credit-culture-more-than-industry-10049&quot; title=&quot;http://www.thehoot.org/media-watch/regional-media/do-farmers-disturb-credit-culture-more-than-industry-10049&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;&lt;/div&gt;&#039;,
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-TheHoot.org&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;Maharashtra&amp;rsquo;s farm daily Agrowon offered a counter to the SBI chief, the RBI governor, and English newspapers critical of the UP farm loan waiver.&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
The Marathi agriculture daily Agrowon has criticized both the RBI governor Urjit Patel and State Bank of India&amp;rsquo;s Arundhati Bhattacharya&amp;nbsp; who have objected to the farm&amp;nbsp; loan waiver in Uttar Pradesh and similar demands elsewhere. The paper&amp;rsquo;s line is quite different from that of the mainstream English press which has been sharply critical of Yogi Adityanath&amp;rsquo;s Rs 36,359 crore munificence. &lt;br /&gt;
&lt;br /&gt;
Patel is quoted as having said, &amp;quot;I think it (loan waiver schemes) undermines an honest credit culture. It impacts credit discipline. It (impacts) incentives for future borrowers to repay. In another words, waivers engender moral hazard,&amp;quot; he said after announcing the first bi-monthly monetary policy for 2017-18.&lt;br /&gt;
&lt;br /&gt;
He added that debt waivers also entail transfers from taxpayers to borrowers.&amp;nbsp; Then there was more. &amp;quot;If on account of this overall government borrowing goes up, yields on government bonds also get impacted. Thereafter, it can also lead to crowding of the private borrowers as higher government borrowing can lead to increasing cost of borrowing for others.&amp;rdquo;&lt;br /&gt;
&lt;br /&gt;
Agrowon responded in an editorial:&amp;nbsp; &amp;ldquo;The chief of&amp;nbsp; the State Bank of India Arundhati Bhattacharya has made a statement against the farmers&amp;rsquo; loan waiver saying that farmers&amp;rsquo; should not be given loan waiver because that disturbs the credit discipline. Following this the Governor of Reserve Bank of India Urjit Patel has also opposed the farmers&amp;rsquo; loan waiver saying that would disturb the honest credit culture. These high level persons are opposing the move when at the highest level pro-farmer considerations are going on and demand for loan waiver is being put forth in many states.&lt;br /&gt;
&lt;br /&gt;
It adds, &amp;ldquo;In fact banks which were formerly limited for serving big industrialists were twice nationalized in order to provide benefits to farmers and common citizens. But these banks are providing credit to big industrialists thereby disturbing the very spirit of nationalization. The banks have two-fold policy of doing favour to big borrowers and disregarding any relief or due credit to farmers.&amp;rdquo; &amp;nbsp;&lt;br /&gt;
&lt;br /&gt;
The paper adds that&amp;nbsp; banks have followed one criteria while providing credit and waiver of loans to big industrialists and the other negative one for farmers and this amounts to double standards on the part of the banks. &amp;ldquo;There are large number of cases in the country wherein crores of rupees loans are given by banks sidetracking due rules and regulations. When these loans are not repaid they are shown as NPAs and later they are written off to clear the balance sheets. This process is going on every year. These written off cases are nothing but clear loan waivers.&amp;rdquo;&lt;br /&gt;
&lt;br /&gt;
It goes on to say that this &amp;lsquo;writing off&amp;rsquo; process reduces dividend of banks&amp;rsquo; shares and incurs loss to the government. On the contrary when farmers are given loan waiver the amount is paid by the government without any loss to the banks and on the contrary their profits are increased.&lt;br /&gt;
&lt;br /&gt;
Agrowon ends by saying that it should &amp;ldquo;therefore be noted that farmers are repaying their loans and only due to natural calamities and also some anti-farm government policies their monetary conditions are perturbed resulting in crisis.&amp;rdquo; &amp;nbsp;&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;http://www.thehoot.org/media-watch/regional-media/do-farmers-disturb-credit-culture-more-than-industry-10049&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
&lt;/div&gt;&#039;,
	&#039;credit_writer&#039; =&gt; &#039;TheHoot.org, 17 April, 2017, http://www.thehoot.org/media-watch/regional-media/do-farmers-disturb-credit-culture-more-than-industry-10049&#039;,
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-TheHoot.org

Maharashtra&amp;rsquo;s farm daily Agrowon offered a counter to the SBI chief, the RBI governor, and English newspapers critical of the UP farm loan waiver.

The Marathi agriculture daily Agrowon has criticized both the RBI governor Urjit Patel and State Bank of...&#039;
$disp = &#039;&lt;div align=&quot;justify&quot;&gt;-TheHoot.org&lt;br /&gt;&lt;br /&gt;&lt;em&gt;Maharashtra&amp;rsquo;s farm daily Agrowon offered a counter to the SBI chief, the RBI governor, and English newspapers critical of the UP farm loan waiver.&lt;br /&gt;&lt;/em&gt;&lt;br /&gt;The Marathi agriculture daily Agrowon has criticized both the RBI governor Urjit Patel and State Bank of India&amp;rsquo;s Arundhati Bhattacharya&amp;nbsp; who have objected to the farm&amp;nbsp; loan waiver in Uttar Pradesh and similar demands elsewhere. The paper&amp;rsquo;s line is quite different from that of the mainstream English press which has been sharply critical of Yogi Adityanath&amp;rsquo;s Rs 36,359 crore munificence. &lt;br /&gt;&lt;br /&gt;Patel is quoted as having said, &amp;quot;I think it (loan waiver schemes) undermines an honest credit culture. It impacts credit discipline. It (impacts) incentives for future borrowers to repay. In another words, waivers engender moral hazard,&amp;quot; he said after announcing the first bi-monthly monetary policy for 2017-18.&lt;br /&gt;&lt;br /&gt;He added that debt waivers also entail transfers from taxpayers to borrowers.&amp;nbsp; Then there was more. &amp;quot;If on account of this overall government borrowing goes up, yields on government bonds also get impacted. Thereafter, it can also lead to crowding of the private borrowers as higher government borrowing can lead to increasing cost of borrowing for others.&amp;rdquo;&lt;br /&gt;&lt;br /&gt;Agrowon responded in an editorial:&amp;nbsp; &amp;ldquo;The chief of&amp;nbsp; the State Bank of India Arundhati Bhattacharya has made a statement against the farmers&amp;rsquo; loan waiver saying that farmers&amp;rsquo; should not be given loan waiver because that disturbs the credit discipline. Following this the Governor of Reserve Bank of India Urjit Patel has also opposed the farmers&amp;rsquo; loan waiver saying that would disturb the honest credit culture. These high level persons are opposing the move when at the highest level pro-farmer considerations are going on and demand for loan waiver is being put forth in many states.&lt;br /&gt;&lt;br /&gt;It adds, &amp;ldquo;In fact banks which were formerly limited for serving big industrialists were twice nationalized in order to provide benefits to farmers and common citizens. But these banks are providing credit to big industrialists thereby disturbing the very spirit of nationalization. The banks have two-fold policy of doing favour to big borrowers and disregarding any relief or due credit to farmers.&amp;rdquo; &amp;nbsp;&lt;br /&gt;&lt;br /&gt;The paper adds that&amp;nbsp; banks have followed one criteria while providing credit and waiver of loans to big industrialists and the other negative one for farmers and this amounts to double standards on the part of the banks. &amp;ldquo;There are large number of cases in the country wherein crores of rupees loans are given by banks sidetracking due rules and regulations. When these loans are not repaid they are shown as NPAs and later they are written off to clear the balance sheets. This process is going on every year. These written off cases are nothing but clear loan waivers.&amp;rdquo;&lt;br /&gt;&lt;br /&gt;It goes on to say that this &amp;lsquo;writing off&amp;rsquo; process reduces dividend of banks&amp;rsquo; shares and incurs loss to the government. On the contrary when farmers are given loan waiver the amount is paid by the government without any loss to the banks and on the contrary their profits are increased.&lt;br /&gt;&lt;br /&gt;Agrowon ends by saying that it should &amp;ldquo;therefore be noted that farmers are repaying their loans and only due to natural calamities and also some anti-farm government policies their monetary conditions are perturbed resulting in crisis.&amp;rdquo; &amp;nbsp;&lt;br /&gt;&lt;br /&gt;Please &lt;a href=&quot;http://www.thehoot.org/media-watch/regional-media/do-farmers-disturb-credit-culture-more-than-industry-10049&quot; title=&quot;http://www.thehoot.org/media-watch/regional-media/do-farmers-disturb-credit-culture-more-than-industry-10049&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;&lt;/div&gt;&#039;
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-TheHoot.org

Maharashtra&rsquo;s farm daily Agrowon offered a counter to the SBI chief, the RBI governor, and English newspapers critical of the UP farm loan waiver.

The Marathi agriculture daily Agrowon has criticized both the RBI governor Urjit Patel and State Bank of..."/>
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                <strong>Do farmers disturb credit culture more than industry? -Prabhakar Kulkarni</strong></h1>
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                <div align="justify">-TheHoot.org<br /><br /><em>Maharashtra&rsquo;s farm daily Agrowon offered a counter to the SBI chief, the RBI governor, and English newspapers critical of the UP farm loan waiver.<br /></em><br />The Marathi agriculture daily Agrowon has criticized both the RBI governor Urjit Patel and State Bank of India&rsquo;s Arundhati Bhattacharya&nbsp; who have objected to the farm&nbsp; loan waiver in Uttar Pradesh and similar demands elsewhere. The paper&rsquo;s line is quite different from that of the mainstream English press which has been sharply critical of Yogi Adityanath&rsquo;s Rs 36,359 crore munificence. <br /><br />Patel is quoted as having said, &quot;I think it (loan waiver schemes) undermines an honest credit culture. It impacts credit discipline. It (impacts) incentives for future borrowers to repay. In another words, waivers engender moral hazard,&quot; he said after announcing the first bi-monthly monetary policy for 2017-18.<br /><br />He added that debt waivers also entail transfers from taxpayers to borrowers.&nbsp; Then there was more. &quot;If on account of this overall government borrowing goes up, yields on government bonds also get impacted. Thereafter, it can also lead to crowding of the private borrowers as higher government borrowing can lead to increasing cost of borrowing for others.&rdquo;<br /><br />Agrowon responded in an editorial:&nbsp; &ldquo;The chief of&nbsp; the State Bank of India Arundhati Bhattacharya has made a statement against the farmers&rsquo; loan waiver saying that farmers&rsquo; should not be given loan waiver because that disturbs the credit discipline. Following this the Governor of Reserve Bank of India Urjit Patel has also opposed the farmers&rsquo; loan waiver saying that would disturb the honest credit culture. These high level persons are opposing the move when at the highest level pro-farmer considerations are going on and demand for loan waiver is being put forth in many states.<br /><br />It adds, &ldquo;In fact banks which were formerly limited for serving big industrialists were twice nationalized in order to provide benefits to farmers and common citizens. But these banks are providing credit to big industrialists thereby disturbing the very spirit of nationalization. The banks have two-fold policy of doing favour to big borrowers and disregarding any relief or due credit to farmers.&rdquo; &nbsp;<br /><br />The paper adds that&nbsp; banks have followed one criteria while providing credit and waiver of loans to big industrialists and the other negative one for farmers and this amounts to double standards on the part of the banks. &ldquo;There are large number of cases in the country wherein crores of rupees loans are given by banks sidetracking due rules and regulations. When these loans are not repaid they are shown as NPAs and later they are written off to clear the balance sheets. This process is going on every year. These written off cases are nothing but clear loan waivers.&rdquo;<br /><br />It goes on to say that this &lsquo;writing off&rsquo; process reduces dividend of banks&rsquo; shares and incurs loss to the government. On the contrary when farmers are given loan waiver the amount is paid by the government without any loss to the banks and on the contrary their profits are increased.<br /><br />Agrowon ends by saying that it should &ldquo;therefore be noted that farmers are repaying their loans and only due to natural calamities and also some anti-farm government policies their monetary conditions are perturbed resulting in crisis.&rdquo; &nbsp;<br /><br />Please <a href="http://www.thehoot.org/media-watch/regional-media/do-farmers-disturb-credit-culture-more-than-industry-10049" title="http://www.thehoot.org/media-watch/regional-media/do-farmers-disturb-credit-culture-more-than-industry-10049">click here</a> to read more. <br /></div>               </font>
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-TheHoot.org&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;Maharashtra&amp;rsquo;s farm daily Agrowon offered a counter to the SBI chief, the RBI governor, and English newspapers critical of the UP farm loan waiver.&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
The Marathi agriculture daily Agrowon has criticized both the RBI governor Urjit Patel and State Bank of India&amp;rsquo;s Arundhati Bhattacharya&amp;nbsp; who have objected to the farm&amp;nbsp; loan waiver in Uttar Pradesh and similar demands elsewhere. The paper&amp;rsquo;s line is quite different from that of the mainstream English press which has been sharply critical of Yogi Adityanath&amp;rsquo;s Rs 36,359 crore munificence. &lt;br /&gt;
&lt;br /&gt;
Patel is quoted as having said, &amp;quot;I think it (loan waiver schemes) undermines an honest credit culture. It impacts credit discipline. It (impacts) incentives for future borrowers to repay. In another words, waivers engender moral hazard,&amp;quot; he said after announcing the first bi-monthly monetary policy for 2017-18.&lt;br /&gt;
&lt;br /&gt;
He added that debt waivers also entail transfers from taxpayers to borrowers.&amp;nbsp; Then there was more. &amp;quot;If on account of this overall government borrowing goes up, yields on government bonds also get impacted. Thereafter, it can also lead to crowding of the private borrowers as higher government borrowing can lead to increasing cost of borrowing for others.&amp;rdquo;&lt;br /&gt;
&lt;br /&gt;
Agrowon responded in an editorial:&amp;nbsp; &amp;ldquo;The chief of&amp;nbsp; the State Bank of India Arundhati Bhattacharya has made a statement against the farmers&amp;rsquo; loan waiver saying that farmers&amp;rsquo; should not be given loan waiver because that disturbs the credit discipline. Following this the Governor of Reserve Bank of India Urjit Patel has also opposed the farmers&amp;rsquo; loan waiver saying that would disturb the honest credit culture. These high level persons are opposing the move when at the highest level pro-farmer considerations are going on and demand for loan waiver is being put forth in many states.&lt;br /&gt;
&lt;br /&gt;
It adds, &amp;ldquo;In fact banks which were formerly limited for serving big industrialists were twice nationalized in order to provide benefits to farmers and common citizens. But these banks are providing credit to big industrialists thereby disturbing the very spirit of nationalization. The banks have two-fold policy of doing favour to big borrowers and disregarding any relief or due credit to farmers.&amp;rdquo; &amp;nbsp;&lt;br /&gt;
&lt;br /&gt;
The paper adds that&amp;nbsp; banks have followed one criteria while providing credit and waiver of loans to big industrialists and the other negative one for farmers and this amounts to double standards on the part of the banks. &amp;ldquo;There are large number of cases in the country wherein crores of rupees loans are given by banks sidetracking due rules and regulations. When these loans are not repaid they are shown as NPAs and later they are written off to clear the balance sheets. This process is going on every year. These written off cases are nothing but clear loan waivers.&amp;rdquo;&lt;br /&gt;
&lt;br /&gt;
It goes on to say that this &amp;lsquo;writing off&amp;rsquo; process reduces dividend of banks&amp;rsquo; shares and incurs loss to the government. On the contrary when farmers are given loan waiver the amount is paid by the government without any loss to the banks and on the contrary their profits are increased.&lt;br /&gt;
&lt;br /&gt;
Agrowon ends by saying that it should &amp;ldquo;therefore be noted that farmers are repaying their loans and only due to natural calamities and also some anti-farm government policies their monetary conditions are perturbed resulting in crisis.&amp;rdquo; &amp;nbsp;&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;http://www.thehoot.org/media-watch/regional-media/do-farmers-disturb-credit-culture-more-than-industry-10049&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
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-TheHoot.org

Maharashtra&amp;rsquo;s farm daily Agrowon offered a counter to the SBI chief, the RBI governor, and English newspapers critical of the UP farm loan waiver.

The Marathi agriculture daily Agrowon has criticized both the RBI governor Urjit Patel and State Bank of...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;-TheHoot.org&lt;br /&gt;&lt;br /&gt;&lt;em&gt;Maharashtra&amp;rsquo;s farm daily Agrowon offered a counter to the SBI chief, the RBI governor, and English newspapers critical of the UP farm loan waiver.&lt;br /&gt;&lt;/em&gt;&lt;br /&gt;The Marathi agriculture daily Agrowon has criticized both the RBI governor Urjit Patel and State Bank of India&amp;rsquo;s Arundhati Bhattacharya&amp;nbsp; who have objected to the farm&amp;nbsp; loan waiver in Uttar Pradesh and similar demands elsewhere. The paper&amp;rsquo;s line is quite different from that of the mainstream English press which has been sharply critical of Yogi Adityanath&amp;rsquo;s Rs 36,359 crore munificence. &lt;br /&gt;&lt;br /&gt;Patel is quoted as having said, &amp;quot;I think it (loan waiver schemes) undermines an honest credit culture. It impacts credit discipline. It (impacts) incentives for future borrowers to repay. In another words, waivers engender moral hazard,&amp;quot; he said after announcing the first bi-monthly monetary policy for 2017-18.&lt;br /&gt;&lt;br /&gt;He added that debt waivers also entail transfers from taxpayers to borrowers.&amp;nbsp; Then there was more. &amp;quot;If on account of this overall government borrowing goes up, yields on government bonds also get impacted. Thereafter, it can also lead to crowding of the private borrowers as higher government borrowing can lead to increasing cost of borrowing for others.&amp;rdquo;&lt;br /&gt;&lt;br /&gt;Agrowon responded in an editorial:&amp;nbsp; &amp;ldquo;The chief of&amp;nbsp; the State Bank of India Arundhati Bhattacharya has made a statement against the farmers&amp;rsquo; loan waiver saying that farmers&amp;rsquo; should not be given loan waiver because that disturbs the credit discipline. Following this the Governor of Reserve Bank of India Urjit Patel has also opposed the farmers&amp;rsquo; loan waiver saying that would disturb the honest credit culture. These high level persons are opposing the move when at the highest level pro-farmer considerations are going on and demand for loan waiver is being put forth in many states.&lt;br /&gt;&lt;br /&gt;It adds, &amp;ldquo;In fact banks which were formerly limited for serving big industrialists were twice nationalized in order to provide benefits to farmers and common citizens. But these banks are providing credit to big industrialists thereby disturbing the very spirit of nationalization. The banks have two-fold policy of doing favour to big borrowers and disregarding any relief or due credit to farmers.&amp;rdquo; &amp;nbsp;&lt;br /&gt;&lt;br /&gt;The paper adds that&amp;nbsp; banks have followed one criteria while providing credit and waiver of loans to big industrialists and the other negative one for farmers and this amounts to double standards on the part of the banks. &amp;ldquo;There are large number of cases in the country wherein crores of rupees loans are given by banks sidetracking due rules and regulations. When these loans are not repaid they are shown as NPAs and later they are written off to clear the balance sheets. This process is going on every year. These written off cases are nothing but clear loan waivers.&amp;rdquo;&lt;br /&gt;&lt;br /&gt;It goes on to say that this &amp;lsquo;writing off&amp;rsquo; process reduces dividend of banks&amp;rsquo; shares and incurs loss to the government. On the contrary when farmers are given loan waiver the amount is paid by the government without any loss to the banks and on the contrary their profits are increased.&lt;br /&gt;&lt;br /&gt;Agrowon ends by saying that it should &amp;ldquo;therefore be noted that farmers are repaying their loans and only due to natural calamities and also some anti-farm government policies their monetary conditions are perturbed resulting in crisis.&amp;rdquo; &amp;nbsp;&lt;br /&gt;&lt;br /&gt;Please &lt;a href=&quot;http://www.thehoot.org/media-watch/regional-media/do-farmers-disturb-credit-culture-more-than-industry-10049&quot; title=&quot;http://www.thehoot.org/media-watch/regional-media/do-farmers-disturb-credit-culture-more-than-industry-10049&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;&lt;/div&gt;&#039;,
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-TheHoot.org&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;Maharashtra&amp;rsquo;s farm daily Agrowon offered a counter to the SBI chief, the RBI governor, and English newspapers critical of the UP farm loan waiver.&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
The Marathi agriculture daily Agrowon has criticized both the RBI governor Urjit Patel and State Bank of India&amp;rsquo;s Arundhati Bhattacharya&amp;nbsp; who have objected to the farm&amp;nbsp; loan waiver in Uttar Pradesh and similar demands elsewhere. The paper&amp;rsquo;s line is quite different from that of the mainstream English press which has been sharply critical of Yogi Adityanath&amp;rsquo;s Rs 36,359 crore munificence. &lt;br /&gt;
&lt;br /&gt;
Patel is quoted as having said, &amp;quot;I think it (loan waiver schemes) undermines an honest credit culture. It impacts credit discipline. It (impacts) incentives for future borrowers to repay. In another words, waivers engender moral hazard,&amp;quot; he said after announcing the first bi-monthly monetary policy for 2017-18.&lt;br /&gt;
&lt;br /&gt;
He added that debt waivers also entail transfers from taxpayers to borrowers.&amp;nbsp; Then there was more. &amp;quot;If on account of this overall government borrowing goes up, yields on government bonds also get impacted. Thereafter, it can also lead to crowding of the private borrowers as higher government borrowing can lead to increasing cost of borrowing for others.&amp;rdquo;&lt;br /&gt;
&lt;br /&gt;
Agrowon responded in an editorial:&amp;nbsp; &amp;ldquo;The chief of&amp;nbsp; the State Bank of India Arundhati Bhattacharya has made a statement against the farmers&amp;rsquo; loan waiver saying that farmers&amp;rsquo; should not be given loan waiver because that disturbs the credit discipline. Following this the Governor of Reserve Bank of India Urjit Patel has also opposed the farmers&amp;rsquo; loan waiver saying that would disturb the honest credit culture. These high level persons are opposing the move when at the highest level pro-farmer considerations are going on and demand for loan waiver is being put forth in many states.&lt;br /&gt;
&lt;br /&gt;
It adds, &amp;ldquo;In fact banks which were formerly limited for serving big industrialists were twice nationalized in order to provide benefits to farmers and common citizens. But these banks are providing credit to big industrialists thereby disturbing the very spirit of nationalization. The banks have two-fold policy of doing favour to big borrowers and disregarding any relief or due credit to farmers.&amp;rdquo; &amp;nbsp;&lt;br /&gt;
&lt;br /&gt;
The paper adds that&amp;nbsp; banks have followed one criteria while providing credit and waiver of loans to big industrialists and the other negative one for farmers and this amounts to double standards on the part of the banks. &amp;ldquo;There are large number of cases in the country wherein crores of rupees loans are given by banks sidetracking due rules and regulations. When these loans are not repaid they are shown as NPAs and later they are written off to clear the balance sheets. This process is going on every year. These written off cases are nothing but clear loan waivers.&amp;rdquo;&lt;br /&gt;
&lt;br /&gt;
It goes on to say that this &amp;lsquo;writing off&amp;rsquo; process reduces dividend of banks&amp;rsquo; shares and incurs loss to the government. On the contrary when farmers are given loan waiver the amount is paid by the government without any loss to the banks and on the contrary their profits are increased.&lt;br /&gt;
&lt;br /&gt;
Agrowon ends by saying that it should &amp;ldquo;therefore be noted that farmers are repaying their loans and only due to natural calamities and also some anti-farm government policies their monetary conditions are perturbed resulting in crisis.&amp;rdquo; &amp;nbsp;&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;http://www.thehoot.org/media-watch/regional-media/do-farmers-disturb-credit-culture-more-than-industry-10049&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
&lt;/div&gt;&#039;,
	&#039;credit_writer&#039; =&gt; &#039;TheHoot.org, 17 April, 2017, http://www.thehoot.org/media-watch/regional-media/do-farmers-disturb-credit-culture-more-than-industry-10049&#039;,
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-TheHoot.org

Maharashtra&amp;rsquo;s farm daily Agrowon offered a counter to the SBI chief, the RBI governor, and English newspapers critical of the UP farm loan waiver.

The Marathi agriculture daily Agrowon has criticized both the RBI governor Urjit Patel and State Bank of...&#039;
$disp = &#039;&lt;div align=&quot;justify&quot;&gt;-TheHoot.org&lt;br /&gt;&lt;br /&gt;&lt;em&gt;Maharashtra&amp;rsquo;s farm daily Agrowon offered a counter to the SBI chief, the RBI governor, and English newspapers critical of the UP farm loan waiver.&lt;br /&gt;&lt;/em&gt;&lt;br /&gt;The Marathi agriculture daily Agrowon has criticized both the RBI governor Urjit Patel and State Bank of India&amp;rsquo;s Arundhati Bhattacharya&amp;nbsp; who have objected to the farm&amp;nbsp; loan waiver in Uttar Pradesh and similar demands elsewhere. The paper&amp;rsquo;s line is quite different from that of the mainstream English press which has been sharply critical of Yogi Adityanath&amp;rsquo;s Rs 36,359 crore munificence. &lt;br /&gt;&lt;br /&gt;Patel is quoted as having said, &amp;quot;I think it (loan waiver schemes) undermines an honest credit culture. It impacts credit discipline. It (impacts) incentives for future borrowers to repay. In another words, waivers engender moral hazard,&amp;quot; he said after announcing the first bi-monthly monetary policy for 2017-18.&lt;br /&gt;&lt;br /&gt;He added that debt waivers also entail transfers from taxpayers to borrowers.&amp;nbsp; Then there was more. &amp;quot;If on account of this overall government borrowing goes up, yields on government bonds also get impacted. Thereafter, it can also lead to crowding of the private borrowers as higher government borrowing can lead to increasing cost of borrowing for others.&amp;rdquo;&lt;br /&gt;&lt;br /&gt;Agrowon responded in an editorial:&amp;nbsp; &amp;ldquo;The chief of&amp;nbsp; the State Bank of India Arundhati Bhattacharya has made a statement against the farmers&amp;rsquo; loan waiver saying that farmers&amp;rsquo; should not be given loan waiver because that disturbs the credit discipline. Following this the Governor of Reserve Bank of India Urjit Patel has also opposed the farmers&amp;rsquo; loan waiver saying that would disturb the honest credit culture. These high level persons are opposing the move when at the highest level pro-farmer considerations are going on and demand for loan waiver is being put forth in many states.&lt;br /&gt;&lt;br /&gt;It adds, &amp;ldquo;In fact banks which were formerly limited for serving big industrialists were twice nationalized in order to provide benefits to farmers and common citizens. But these banks are providing credit to big industrialists thereby disturbing the very spirit of nationalization. The banks have two-fold policy of doing favour to big borrowers and disregarding any relief or due credit to farmers.&amp;rdquo; &amp;nbsp;&lt;br /&gt;&lt;br /&gt;The paper adds that&amp;nbsp; banks have followed one criteria while providing credit and waiver of loans to big industrialists and the other negative one for farmers and this amounts to double standards on the part of the banks. &amp;ldquo;There are large number of cases in the country wherein crores of rupees loans are given by banks sidetracking due rules and regulations. When these loans are not repaid they are shown as NPAs and later they are written off to clear the balance sheets. This process is going on every year. These written off cases are nothing but clear loan waivers.&amp;rdquo;&lt;br /&gt;&lt;br /&gt;It goes on to say that this &amp;lsquo;writing off&amp;rsquo; process reduces dividend of banks&amp;rsquo; shares and incurs loss to the government. On the contrary when farmers are given loan waiver the amount is paid by the government without any loss to the banks and on the contrary their profits are increased.&lt;br /&gt;&lt;br /&gt;Agrowon ends by saying that it should &amp;ldquo;therefore be noted that farmers are repaying their loans and only due to natural calamities and also some anti-farm government policies their monetary conditions are perturbed resulting in crisis.&amp;rdquo; &amp;nbsp;&lt;br /&gt;&lt;br /&gt;Please &lt;a href=&quot;http://www.thehoot.org/media-watch/regional-media/do-farmers-disturb-credit-culture-more-than-industry-10049&quot; title=&quot;http://www.thehoot.org/media-watch/regional-media/do-farmers-disturb-credit-culture-more-than-industry-10049&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;&lt;/div&gt;&#039;
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Maharashtra&rsquo;s farm daily Agrowon offered a counter to the SBI chief, the RBI governor, and English newspapers critical of the UP farm loan waiver.

The Marathi agriculture daily Agrowon has criticized both the RBI governor Urjit Patel and State Bank of..."/>
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                <strong>Do farmers disturb credit culture more than industry? -Prabhakar Kulkarni</strong></h1>
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                <div align="justify">-TheHoot.org<br /><br /><em>Maharashtra&rsquo;s farm daily Agrowon offered a counter to the SBI chief, the RBI governor, and English newspapers critical of the UP farm loan waiver.<br /></em><br />The Marathi agriculture daily Agrowon has criticized both the RBI governor Urjit Patel and State Bank of India&rsquo;s Arundhati Bhattacharya&nbsp; who have objected to the farm&nbsp; loan waiver in Uttar Pradesh and similar demands elsewhere. The paper&rsquo;s line is quite different from that of the mainstream English press which has been sharply critical of Yogi Adityanath&rsquo;s Rs 36,359 crore munificence. <br /><br />Patel is quoted as having said, &quot;I think it (loan waiver schemes) undermines an honest credit culture. It impacts credit discipline. It (impacts) incentives for future borrowers to repay. In another words, waivers engender moral hazard,&quot; he said after announcing the first bi-monthly monetary policy for 2017-18.<br /><br />He added that debt waivers also entail transfers from taxpayers to borrowers.&nbsp; Then there was more. &quot;If on account of this overall government borrowing goes up, yields on government bonds also get impacted. Thereafter, it can also lead to crowding of the private borrowers as higher government borrowing can lead to increasing cost of borrowing for others.&rdquo;<br /><br />Agrowon responded in an editorial:&nbsp; &ldquo;The chief of&nbsp; the State Bank of India Arundhati Bhattacharya has made a statement against the farmers&rsquo; loan waiver saying that farmers&rsquo; should not be given loan waiver because that disturbs the credit discipline. Following this the Governor of Reserve Bank of India Urjit Patel has also opposed the farmers&rsquo; loan waiver saying that would disturb the honest credit culture. These high level persons are opposing the move when at the highest level pro-farmer considerations are going on and demand for loan waiver is being put forth in many states.<br /><br />It adds, &ldquo;In fact banks which were formerly limited for serving big industrialists were twice nationalized in order to provide benefits to farmers and common citizens. But these banks are providing credit to big industrialists thereby disturbing the very spirit of nationalization. The banks have two-fold policy of doing favour to big borrowers and disregarding any relief or due credit to farmers.&rdquo; &nbsp;<br /><br />The paper adds that&nbsp; banks have followed one criteria while providing credit and waiver of loans to big industrialists and the other negative one for farmers and this amounts to double standards on the part of the banks. &ldquo;There are large number of cases in the country wherein crores of rupees loans are given by banks sidetracking due rules and regulations. When these loans are not repaid they are shown as NPAs and later they are written off to clear the balance sheets. This process is going on every year. These written off cases are nothing but clear loan waivers.&rdquo;<br /><br />It goes on to say that this &lsquo;writing off&rsquo; process reduces dividend of banks&rsquo; shares and incurs loss to the government. On the contrary when farmers are given loan waiver the amount is paid by the government without any loss to the banks and on the contrary their profits are increased.<br /><br />Agrowon ends by saying that it should &ldquo;therefore be noted that farmers are repaying their loans and only due to natural calamities and also some anti-farm government policies their monetary conditions are perturbed resulting in crisis.&rdquo; &nbsp;<br /><br />Please <a href="http://www.thehoot.org/media-watch/regional-media/do-farmers-disturb-credit-culture-more-than-industry-10049" title="http://www.thehoot.org/media-watch/regional-media/do-farmers-disturb-credit-culture-more-than-industry-10049">click here</a> to read more. <br /></div>               </font>
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-TheHoot.org&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;Maharashtra&amp;rsquo;s farm daily Agrowon offered a counter to the SBI chief, the RBI governor, and English newspapers critical of the UP farm loan waiver.&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
The Marathi agriculture daily Agrowon has criticized both the RBI governor Urjit Patel and State Bank of India&amp;rsquo;s Arundhati Bhattacharya&amp;nbsp; who have objected to the farm&amp;nbsp; loan waiver in Uttar Pradesh and similar demands elsewhere. The paper&amp;rsquo;s line is quite different from that of the mainstream English press which has been sharply critical of Yogi Adityanath&amp;rsquo;s Rs 36,359 crore munificence. &lt;br /&gt;
&lt;br /&gt;
Patel is quoted as having said, &amp;quot;I think it (loan waiver schemes) undermines an honest credit culture. It impacts credit discipline. It (impacts) incentives for future borrowers to repay. In another words, waivers engender moral hazard,&amp;quot; he said after announcing the first bi-monthly monetary policy for 2017-18.&lt;br /&gt;
&lt;br /&gt;
He added that debt waivers also entail transfers from taxpayers to borrowers.&amp;nbsp; Then there was more. &amp;quot;If on account of this overall government borrowing goes up, yields on government bonds also get impacted. Thereafter, it can also lead to crowding of the private borrowers as higher government borrowing can lead to increasing cost of borrowing for others.&amp;rdquo;&lt;br /&gt;
&lt;br /&gt;
Agrowon responded in an editorial:&amp;nbsp; &amp;ldquo;The chief of&amp;nbsp; the State Bank of India Arundhati Bhattacharya has made a statement against the farmers&amp;rsquo; loan waiver saying that farmers&amp;rsquo; should not be given loan waiver because that disturbs the credit discipline. Following this the Governor of Reserve Bank of India Urjit Patel has also opposed the farmers&amp;rsquo; loan waiver saying that would disturb the honest credit culture. These high level persons are opposing the move when at the highest level pro-farmer considerations are going on and demand for loan waiver is being put forth in many states.&lt;br /&gt;
&lt;br /&gt;
It adds, &amp;ldquo;In fact banks which were formerly limited for serving big industrialists were twice nationalized in order to provide benefits to farmers and common citizens. But these banks are providing credit to big industrialists thereby disturbing the very spirit of nationalization. The banks have two-fold policy of doing favour to big borrowers and disregarding any relief or due credit to farmers.&amp;rdquo; &amp;nbsp;&lt;br /&gt;
&lt;br /&gt;
The paper adds that&amp;nbsp; banks have followed one criteria while providing credit and waiver of loans to big industrialists and the other negative one for farmers and this amounts to double standards on the part of the banks. &amp;ldquo;There are large number of cases in the country wherein crores of rupees loans are given by banks sidetracking due rules and regulations. When these loans are not repaid they are shown as NPAs and later they are written off to clear the balance sheets. This process is going on every year. These written off cases are nothing but clear loan waivers.&amp;rdquo;&lt;br /&gt;
&lt;br /&gt;
It goes on to say that this &amp;lsquo;writing off&amp;rsquo; process reduces dividend of banks&amp;rsquo; shares and incurs loss to the government. On the contrary when farmers are given loan waiver the amount is paid by the government without any loss to the banks and on the contrary their profits are increased.&lt;br /&gt;
&lt;br /&gt;
Agrowon ends by saying that it should &amp;ldquo;therefore be noted that farmers are repaying their loans and only due to natural calamities and also some anti-farm government policies their monetary conditions are perturbed resulting in crisis.&amp;rdquo; &amp;nbsp;&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;http://www.thehoot.org/media-watch/regional-media/do-farmers-disturb-credit-culture-more-than-industry-10049&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
&lt;/div&gt;&#039;,
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-TheHoot.org

Maharashtra&amp;rsquo;s farm daily Agrowon offered a counter to the SBI chief, the RBI governor, and English newspapers critical of the UP farm loan waiver.

The Marathi agriculture daily Agrowon has criticized both the RBI governor Urjit Patel and State Bank of...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;-TheHoot.org&lt;br /&gt;&lt;br /&gt;&lt;em&gt;Maharashtra&amp;rsquo;s farm daily Agrowon offered a counter to the SBI chief, the RBI governor, and English newspapers critical of the UP farm loan waiver.&lt;br /&gt;&lt;/em&gt;&lt;br /&gt;The Marathi agriculture daily Agrowon has criticized both the RBI governor Urjit Patel and State Bank of India&amp;rsquo;s Arundhati Bhattacharya&amp;nbsp; who have objected to the farm&amp;nbsp; loan waiver in Uttar Pradesh and similar demands elsewhere. The paper&amp;rsquo;s line is quite different from that of the mainstream English press which has been sharply critical of Yogi Adityanath&amp;rsquo;s Rs 36,359 crore munificence. &lt;br /&gt;&lt;br /&gt;Patel is quoted as having said, &amp;quot;I think it (loan waiver schemes) undermines an honest credit culture. It impacts credit discipline. It (impacts) incentives for future borrowers to repay. In another words, waivers engender moral hazard,&amp;quot; he said after announcing the first bi-monthly monetary policy for 2017-18.&lt;br /&gt;&lt;br /&gt;He added that debt waivers also entail transfers from taxpayers to borrowers.&amp;nbsp; Then there was more. &amp;quot;If on account of this overall government borrowing goes up, yields on government bonds also get impacted. Thereafter, it can also lead to crowding of the private borrowers as higher government borrowing can lead to increasing cost of borrowing for others.&amp;rdquo;&lt;br /&gt;&lt;br /&gt;Agrowon responded in an editorial:&amp;nbsp; &amp;ldquo;The chief of&amp;nbsp; the State Bank of India Arundhati Bhattacharya has made a statement against the farmers&amp;rsquo; loan waiver saying that farmers&amp;rsquo; should not be given loan waiver because that disturbs the credit discipline. Following this the Governor of Reserve Bank of India Urjit Patel has also opposed the farmers&amp;rsquo; loan waiver saying that would disturb the honest credit culture. These high level persons are opposing the move when at the highest level pro-farmer considerations are going on and demand for loan waiver is being put forth in many states.&lt;br /&gt;&lt;br /&gt;It adds, &amp;ldquo;In fact banks which were formerly limited for serving big industrialists were twice nationalized in order to provide benefits to farmers and common citizens. But these banks are providing credit to big industrialists thereby disturbing the very spirit of nationalization. The banks have two-fold policy of doing favour to big borrowers and disregarding any relief or due credit to farmers.&amp;rdquo; &amp;nbsp;&lt;br /&gt;&lt;br /&gt;The paper adds that&amp;nbsp; banks have followed one criteria while providing credit and waiver of loans to big industrialists and the other negative one for farmers and this amounts to double standards on the part of the banks. &amp;ldquo;There are large number of cases in the country wherein crores of rupees loans are given by banks sidetracking due rules and regulations. When these loans are not repaid they are shown as NPAs and later they are written off to clear the balance sheets. This process is going on every year. These written off cases are nothing but clear loan waivers.&amp;rdquo;&lt;br /&gt;&lt;br /&gt;It goes on to say that this &amp;lsquo;writing off&amp;rsquo; process reduces dividend of banks&amp;rsquo; shares and incurs loss to the government. On the contrary when farmers are given loan waiver the amount is paid by the government without any loss to the banks and on the contrary their profits are increased.&lt;br /&gt;&lt;br /&gt;Agrowon ends by saying that it should &amp;ldquo;therefore be noted that farmers are repaying their loans and only due to natural calamities and also some anti-farm government policies their monetary conditions are perturbed resulting in crisis.&amp;rdquo; &amp;nbsp;&lt;br /&gt;&lt;br /&gt;Please &lt;a href=&quot;http://www.thehoot.org/media-watch/regional-media/do-farmers-disturb-credit-culture-more-than-industry-10049&quot; title=&quot;http://www.thehoot.org/media-watch/regional-media/do-farmers-disturb-credit-culture-more-than-industry-10049&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;&lt;/div&gt;&#039;,
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-TheHoot.org&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;Maharashtra&amp;rsquo;s farm daily Agrowon offered a counter to the SBI chief, the RBI governor, and English newspapers critical of the UP farm loan waiver.&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
The Marathi agriculture daily Agrowon has criticized both the RBI governor Urjit Patel and State Bank of India&amp;rsquo;s Arundhati Bhattacharya&amp;nbsp; who have objected to the farm&amp;nbsp; loan waiver in Uttar Pradesh and similar demands elsewhere. The paper&amp;rsquo;s line is quite different from that of the mainstream English press which has been sharply critical of Yogi Adityanath&amp;rsquo;s Rs 36,359 crore munificence. &lt;br /&gt;
&lt;br /&gt;
Patel is quoted as having said, &amp;quot;I think it (loan waiver schemes) undermines an honest credit culture. It impacts credit discipline. It (impacts) incentives for future borrowers to repay. In another words, waivers engender moral hazard,&amp;quot; he said after announcing the first bi-monthly monetary policy for 2017-18.&lt;br /&gt;
&lt;br /&gt;
He added that debt waivers also entail transfers from taxpayers to borrowers.&amp;nbsp; Then there was more. &amp;quot;If on account of this overall government borrowing goes up, yields on government bonds also get impacted. Thereafter, it can also lead to crowding of the private borrowers as higher government borrowing can lead to increasing cost of borrowing for others.&amp;rdquo;&lt;br /&gt;
&lt;br /&gt;
Agrowon responded in an editorial:&amp;nbsp; &amp;ldquo;The chief of&amp;nbsp; the State Bank of India Arundhati Bhattacharya has made a statement against the farmers&amp;rsquo; loan waiver saying that farmers&amp;rsquo; should not be given loan waiver because that disturbs the credit discipline. Following this the Governor of Reserve Bank of India Urjit Patel has also opposed the farmers&amp;rsquo; loan waiver saying that would disturb the honest credit culture. These high level persons are opposing the move when at the highest level pro-farmer considerations are going on and demand for loan waiver is being put forth in many states.&lt;br /&gt;
&lt;br /&gt;
It adds, &amp;ldquo;In fact banks which were formerly limited for serving big industrialists were twice nationalized in order to provide benefits to farmers and common citizens. But these banks are providing credit to big industrialists thereby disturbing the very spirit of nationalization. The banks have two-fold policy of doing favour to big borrowers and disregarding any relief or due credit to farmers.&amp;rdquo; &amp;nbsp;&lt;br /&gt;
&lt;br /&gt;
The paper adds that&amp;nbsp; banks have followed one criteria while providing credit and waiver of loans to big industrialists and the other negative one for farmers and this amounts to double standards on the part of the banks. &amp;ldquo;There are large number of cases in the country wherein crores of rupees loans are given by banks sidetracking due rules and regulations. When these loans are not repaid they are shown as NPAs and later they are written off to clear the balance sheets. This process is going on every year. These written off cases are nothing but clear loan waivers.&amp;rdquo;&lt;br /&gt;
&lt;br /&gt;
It goes on to say that this &amp;lsquo;writing off&amp;rsquo; process reduces dividend of banks&amp;rsquo; shares and incurs loss to the government. On the contrary when farmers are given loan waiver the amount is paid by the government without any loss to the banks and on the contrary their profits are increased.&lt;br /&gt;
&lt;br /&gt;
Agrowon ends by saying that it should &amp;ldquo;therefore be noted that farmers are repaying their loans and only due to natural calamities and also some anti-farm government policies their monetary conditions are perturbed resulting in crisis.&amp;rdquo; &amp;nbsp;&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;http://www.thehoot.org/media-watch/regional-media/do-farmers-disturb-credit-culture-more-than-industry-10049&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
&lt;/div&gt;&#039;,
	&#039;credit_writer&#039; =&gt; &#039;TheHoot.org, 17 April, 2017, http://www.thehoot.org/media-watch/regional-media/do-farmers-disturb-credit-culture-more-than-industry-10049&#039;,
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-TheHoot.org

Maharashtra&amp;rsquo;s farm daily Agrowon offered a counter to the SBI chief, the RBI governor, and English newspapers critical of the UP farm loan waiver.

The Marathi agriculture daily Agrowon has criticized both the RBI governor Urjit Patel and State Bank of...&#039;
$disp = &#039;&lt;div align=&quot;justify&quot;&gt;-TheHoot.org&lt;br /&gt;&lt;br /&gt;&lt;em&gt;Maharashtra&amp;rsquo;s farm daily Agrowon offered a counter to the SBI chief, the RBI governor, and English newspapers critical of the UP farm loan waiver.&lt;br /&gt;&lt;/em&gt;&lt;br /&gt;The Marathi agriculture daily Agrowon has criticized both the RBI governor Urjit Patel and State Bank of India&amp;rsquo;s Arundhati Bhattacharya&amp;nbsp; who have objected to the farm&amp;nbsp; loan waiver in Uttar Pradesh and similar demands elsewhere. The paper&amp;rsquo;s line is quite different from that of the mainstream English press which has been sharply critical of Yogi Adityanath&amp;rsquo;s Rs 36,359 crore munificence. &lt;br /&gt;&lt;br /&gt;Patel is quoted as having said, &amp;quot;I think it (loan waiver schemes) undermines an honest credit culture. It impacts credit discipline. It (impacts) incentives for future borrowers to repay. In another words, waivers engender moral hazard,&amp;quot; he said after announcing the first bi-monthly monetary policy for 2017-18.&lt;br /&gt;&lt;br /&gt;He added that debt waivers also entail transfers from taxpayers to borrowers.&amp;nbsp; Then there was more. &amp;quot;If on account of this overall government borrowing goes up, yields on government bonds also get impacted. Thereafter, it can also lead to crowding of the private borrowers as higher government borrowing can lead to increasing cost of borrowing for others.&amp;rdquo;&lt;br /&gt;&lt;br /&gt;Agrowon responded in an editorial:&amp;nbsp; &amp;ldquo;The chief of&amp;nbsp; the State Bank of India Arundhati Bhattacharya has made a statement against the farmers&amp;rsquo; loan waiver saying that farmers&amp;rsquo; should not be given loan waiver because that disturbs the credit discipline. Following this the Governor of Reserve Bank of India Urjit Patel has also opposed the farmers&amp;rsquo; loan waiver saying that would disturb the honest credit culture. These high level persons are opposing the move when at the highest level pro-farmer considerations are going on and demand for loan waiver is being put forth in many states.&lt;br /&gt;&lt;br /&gt;It adds, &amp;ldquo;In fact banks which were formerly limited for serving big industrialists were twice nationalized in order to provide benefits to farmers and common citizens. But these banks are providing credit to big industrialists thereby disturbing the very spirit of nationalization. The banks have two-fold policy of doing favour to big borrowers and disregarding any relief or due credit to farmers.&amp;rdquo; &amp;nbsp;&lt;br /&gt;&lt;br /&gt;The paper adds that&amp;nbsp; banks have followed one criteria while providing credit and waiver of loans to big industrialists and the other negative one for farmers and this amounts to double standards on the part of the banks. &amp;ldquo;There are large number of cases in the country wherein crores of rupees loans are given by banks sidetracking due rules and regulations. When these loans are not repaid they are shown as NPAs and later they are written off to clear the balance sheets. This process is going on every year. These written off cases are nothing but clear loan waivers.&amp;rdquo;&lt;br /&gt;&lt;br /&gt;It goes on to say that this &amp;lsquo;writing off&amp;rsquo; process reduces dividend of banks&amp;rsquo; shares and incurs loss to the government. On the contrary when farmers are given loan waiver the amount is paid by the government without any loss to the banks and on the contrary their profits are increased.&lt;br /&gt;&lt;br /&gt;Agrowon ends by saying that it should &amp;ldquo;therefore be noted that farmers are repaying their loans and only due to natural calamities and also some anti-farm government policies their monetary conditions are perturbed resulting in crisis.&amp;rdquo; &amp;nbsp;&lt;br /&gt;&lt;br /&gt;Please &lt;a href=&quot;http://www.thehoot.org/media-watch/regional-media/do-farmers-disturb-credit-culture-more-than-industry-10049&quot; title=&quot;http://www.thehoot.org/media-watch/regional-media/do-farmers-disturb-credit-culture-more-than-industry-10049&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;&lt;/div&gt;&#039;
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Maharashtra&rsquo;s farm daily Agrowon offered a counter to the SBI chief, the RBI governor, and English newspapers critical of the UP farm loan waiver.

The Marathi agriculture daily Agrowon has criticized both the RBI governor Urjit Patel and State Bank of..."/>
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                <strong>Do farmers disturb credit culture more than industry? -Prabhakar Kulkarni</strong></h1>
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                <div align="justify">-TheHoot.org<br /><br /><em>Maharashtra&rsquo;s farm daily Agrowon offered a counter to the SBI chief, the RBI governor, and English newspapers critical of the UP farm loan waiver.<br /></em><br />The Marathi agriculture daily Agrowon has criticized both the RBI governor Urjit Patel and State Bank of India&rsquo;s Arundhati Bhattacharya&nbsp; who have objected to the farm&nbsp; loan waiver in Uttar Pradesh and similar demands elsewhere. The paper&rsquo;s line is quite different from that of the mainstream English press which has been sharply critical of Yogi Adityanath&rsquo;s Rs 36,359 crore munificence. <br /><br />Patel is quoted as having said, &quot;I think it (loan waiver schemes) undermines an honest credit culture. It impacts credit discipline. It (impacts) incentives for future borrowers to repay. In another words, waivers engender moral hazard,&quot; he said after announcing the first bi-monthly monetary policy for 2017-18.<br /><br />He added that debt waivers also entail transfers from taxpayers to borrowers.&nbsp; Then there was more. &quot;If on account of this overall government borrowing goes up, yields on government bonds also get impacted. Thereafter, it can also lead to crowding of the private borrowers as higher government borrowing can lead to increasing cost of borrowing for others.&rdquo;<br /><br />Agrowon responded in an editorial:&nbsp; &ldquo;The chief of&nbsp; the State Bank of India Arundhati Bhattacharya has made a statement against the farmers&rsquo; loan waiver saying that farmers&rsquo; should not be given loan waiver because that disturbs the credit discipline. Following this the Governor of Reserve Bank of India Urjit Patel has also opposed the farmers&rsquo; loan waiver saying that would disturb the honest credit culture. These high level persons are opposing the move when at the highest level pro-farmer considerations are going on and demand for loan waiver is being put forth in many states.<br /><br />It adds, &ldquo;In fact banks which were formerly limited for serving big industrialists were twice nationalized in order to provide benefits to farmers and common citizens. But these banks are providing credit to big industrialists thereby disturbing the very spirit of nationalization. The banks have two-fold policy of doing favour to big borrowers and disregarding any relief or due credit to farmers.&rdquo; &nbsp;<br /><br />The paper adds that&nbsp; banks have followed one criteria while providing credit and waiver of loans to big industrialists and the other negative one for farmers and this amounts to double standards on the part of the banks. &ldquo;There are large number of cases in the country wherein crores of rupees loans are given by banks sidetracking due rules and regulations. When these loans are not repaid they are shown as NPAs and later they are written off to clear the balance sheets. This process is going on every year. These written off cases are nothing but clear loan waivers.&rdquo;<br /><br />It goes on to say that this &lsquo;writing off&rsquo; process reduces dividend of banks&rsquo; shares and incurs loss to the government. On the contrary when farmers are given loan waiver the amount is paid by the government without any loss to the banks and on the contrary their profits are increased.<br /><br />Agrowon ends by saying that it should &ldquo;therefore be noted that farmers are repaying their loans and only due to natural calamities and also some anti-farm government policies their monetary conditions are perturbed resulting in crisis.&rdquo; &nbsp;<br /><br />Please <a href="http://www.thehoot.org/media-watch/regional-media/do-farmers-disturb-credit-culture-more-than-industry-10049" title="http://www.thehoot.org/media-watch/regional-media/do-farmers-disturb-credit-culture-more-than-industry-10049">click here</a> to read more. <br /></div>               </font>
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-TheHoot.org<br />
<br />
<em>Maharashtra&rsquo;s farm daily Agrowon offered a counter to the SBI chief, the RBI governor, and English newspapers critical of the UP farm loan waiver.<br />
</em><br />
The Marathi agriculture daily Agrowon has criticized both the RBI governor Urjit Patel and State Bank of India&rsquo;s Arundhati Bhattacharya&nbsp; who have objected to the farm&nbsp; loan waiver in Uttar Pradesh and similar demands elsewhere. The paper&rsquo;s line is quite different from that of the mainstream English press which has been sharply critical of Yogi Adityanath&rsquo;s Rs 36,359 crore munificence. <br />
<br />
Patel is quoted as having said, &quot;I think it (loan waiver schemes) undermines an honest credit culture. It impacts credit discipline. It (impacts) incentives for future borrowers to repay. In another words, waivers engender moral hazard,&quot; he said after announcing the first bi-monthly monetary policy for 2017-18.<br />
<br />
He added that debt waivers also entail transfers from taxpayers to borrowers.&nbsp; Then there was more. &quot;If on account of this overall government borrowing goes up, yields on government bonds also get impacted. Thereafter, it can also lead to crowding of the private borrowers as higher government borrowing can lead to increasing cost of borrowing for others.&rdquo;<br />
<br />
Agrowon responded in an editorial:&nbsp; &ldquo;The chief of&nbsp; the State Bank of India Arundhati Bhattacharya has made a statement against the farmers&rsquo; loan waiver saying that farmers&rsquo; should not be given loan waiver because that disturbs the credit discipline. Following this the Governor of Reserve Bank of India Urjit Patel has also opposed the farmers&rsquo; loan waiver saying that would disturb the honest credit culture. These high level persons are opposing the move when at the highest level pro-farmer considerations are going on and demand for loan waiver is being put forth in many states.<br />
<br />
It adds, &ldquo;In fact banks which were formerly limited for serving big industrialists were twice nationalized in order to provide benefits to farmers and common citizens. But these banks are providing credit to big industrialists thereby disturbing the very spirit of nationalization. The banks have two-fold policy of doing favour to big borrowers and disregarding any relief or due credit to farmers.&rdquo; &nbsp;<br />
<br />
The paper adds that&nbsp; banks have followed one criteria while providing credit and waiver of loans to big industrialists and the other negative one for farmers and this amounts to double standards on the part of the banks. &ldquo;There are large number of cases in the country wherein crores of rupees loans are given by banks sidetracking due rules and regulations. When these loans are not repaid they are shown as NPAs and later they are written off to clear the balance sheets. This process is going on every year. These written off cases are nothing but clear loan waivers.&rdquo;<br />
<br />
It goes on to say that this &lsquo;writing off&rsquo; process reduces dividend of banks&rsquo; shares and incurs loss to the government. On the contrary when farmers are given loan waiver the amount is paid by the government without any loss to the banks and on the contrary their profits are increased.<br />
<br />
Agrowon ends by saying that it should &ldquo;therefore be noted that farmers are repaying their loans and only due to natural calamities and also some anti-farm government policies their monetary conditions are perturbed resulting in crisis.&rdquo; &nbsp;<br />
<br />
Please <a href="http://www.thehoot.org/media-watch/regional-media/do-farmers-disturb-credit-culture-more-than-industry-10049">click here</a> to read more. <br />
</div>',
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-TheHoot.org

Maharashtra&rsquo;s farm daily Agrowon offered a counter to the SBI chief, the RBI governor, and English newspapers critical of the UP farm loan waiver.

The Marathi agriculture daily Agrowon has criticized both the RBI governor Urjit Patel and State Bank of...',
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-TheHoot.org<br />
<br />
<em>Maharashtra&rsquo;s farm daily Agrowon offered a counter to the SBI chief, the RBI governor, and English newspapers critical of the UP farm loan waiver.<br />
</em><br />
The Marathi agriculture daily Agrowon has criticized both the RBI governor Urjit Patel and State Bank of India&rsquo;s Arundhati Bhattacharya&nbsp; who have objected to the farm&nbsp; loan waiver in Uttar Pradesh and similar demands elsewhere. The paper&rsquo;s line is quite different from that of the mainstream English press which has been sharply critical of Yogi Adityanath&rsquo;s Rs 36,359 crore munificence. <br />
<br />
Patel is quoted as having said, &quot;I think it (loan waiver schemes) undermines an honest credit culture. It impacts credit discipline. It (impacts) incentives for future borrowers to repay. In another words, waivers engender moral hazard,&quot; he said after announcing the first bi-monthly monetary policy for 2017-18.<br />
<br />
He added that debt waivers also entail transfers from taxpayers to borrowers.&nbsp; Then there was more. &quot;If on account of this overall government borrowing goes up, yields on government bonds also get impacted. Thereafter, it can also lead to crowding of the private borrowers as higher government borrowing can lead to increasing cost of borrowing for others.&rdquo;<br />
<br />
Agrowon responded in an editorial:&nbsp; &ldquo;The chief of&nbsp; the State Bank of India Arundhati Bhattacharya has made a statement against the farmers&rsquo; loan waiver saying that farmers&rsquo; should not be given loan waiver because that disturbs the credit discipline. Following this the Governor of Reserve Bank of India Urjit Patel has also opposed the farmers&rsquo; loan waiver saying that would disturb the honest credit culture. These high level persons are opposing the move when at the highest level pro-farmer considerations are going on and demand for loan waiver is being put forth in many states.<br />
<br />
It adds, &ldquo;In fact banks which were formerly limited for serving big industrialists were twice nationalized in order to provide benefits to farmers and common citizens. But these banks are providing credit to big industrialists thereby disturbing the very spirit of nationalization. The banks have two-fold policy of doing favour to big borrowers and disregarding any relief or due credit to farmers.&rdquo; &nbsp;<br />
<br />
The paper adds that&nbsp; banks have followed one criteria while providing credit and waiver of loans to big industrialists and the other negative one for farmers and this amounts to double standards on the part of the banks. &ldquo;There are large number of cases in the country wherein crores of rupees loans are given by banks sidetracking due rules and regulations. When these loans are not repaid they are shown as NPAs and later they are written off to clear the balance sheets. This process is going on every year. These written off cases are nothing but clear loan waivers.&rdquo;<br />
<br />
It goes on to say that this &lsquo;writing off&rsquo; process reduces dividend of banks&rsquo; shares and incurs loss to the government. On the contrary when farmers are given loan waiver the amount is paid by the government without any loss to the banks and on the contrary their profits are increased.<br />
<br />
Agrowon ends by saying that it should &ldquo;therefore be noted that farmers are repaying their loans and only due to natural calamities and also some anti-farm government policies their monetary conditions are perturbed resulting in crisis.&rdquo; &nbsp;<br />
<br />
Please <a href="http://www.thehoot.org/media-watch/regional-media/do-farmers-disturb-credit-culture-more-than-industry-10049">click here</a> to read more. <br />
</div>',
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$articleid = (int) 33539
$metaTitle = 'LATEST NEWS UPDATES | Do farmers disturb credit culture more than industry? -Prabhakar Kulkarni'
$metaKeywords = 'Debt Burden,Farm Credit,Farm Debt,Farm Incomes,Farm Loans,Loan Waiver,Farmers' Income,Farmers' Suicide,Farmers' Suicides,Non-Performing Assets (NPAs)'
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-TheHoot.org

Maharashtra&rsquo;s farm daily Agrowon offered a counter to the SBI chief, the RBI governor, and English newspapers critical of the UP farm loan waiver.

The Marathi agriculture daily Agrowon has criticized both the RBI governor Urjit Patel and State Bank of...'
$disp = '<div align="justify">-TheHoot.org<br /><br /><em>Maharashtra&rsquo;s farm daily Agrowon offered a counter to the SBI chief, the RBI governor, and English newspapers critical of the UP farm loan waiver.<br /></em><br />The Marathi agriculture daily Agrowon has criticized both the RBI governor Urjit Patel and State Bank of India&rsquo;s Arundhati Bhattacharya&nbsp; who have objected to the farm&nbsp; loan waiver in Uttar Pradesh and similar demands elsewhere. The paper&rsquo;s line is quite different from that of the mainstream English press which has been sharply critical of Yogi Adityanath&rsquo;s Rs 36,359 crore munificence. <br /><br />Patel is quoted as having said, &quot;I think it (loan waiver schemes) undermines an honest credit culture. It impacts credit discipline. It (impacts) incentives for future borrowers to repay. In another words, waivers engender moral hazard,&quot; he said after announcing the first bi-monthly monetary policy for 2017-18.<br /><br />He added that debt waivers also entail transfers from taxpayers to borrowers.&nbsp; Then there was more. &quot;If on account of this overall government borrowing goes up, yields on government bonds also get impacted. Thereafter, it can also lead to crowding of the private borrowers as higher government borrowing can lead to increasing cost of borrowing for others.&rdquo;<br /><br />Agrowon responded in an editorial:&nbsp; &ldquo;The chief of&nbsp; the State Bank of India Arundhati Bhattacharya has made a statement against the farmers&rsquo; loan waiver saying that farmers&rsquo; should not be given loan waiver because that disturbs the credit discipline. Following this the Governor of Reserve Bank of India Urjit Patel has also opposed the farmers&rsquo; loan waiver saying that would disturb the honest credit culture. These high level persons are opposing the move when at the highest level pro-farmer considerations are going on and demand for loan waiver is being put forth in many states.<br /><br />It adds, &ldquo;In fact banks which were formerly limited for serving big industrialists were twice nationalized in order to provide benefits to farmers and common citizens. But these banks are providing credit to big industrialists thereby disturbing the very spirit of nationalization. The banks have two-fold policy of doing favour to big borrowers and disregarding any relief or due credit to farmers.&rdquo; &nbsp;<br /><br />The paper adds that&nbsp; banks have followed one criteria while providing credit and waiver of loans to big industrialists and the other negative one for farmers and this amounts to double standards on the part of the banks. &ldquo;There are large number of cases in the country wherein crores of rupees loans are given by banks sidetracking due rules and regulations. When these loans are not repaid they are shown as NPAs and later they are written off to clear the balance sheets. This process is going on every year. These written off cases are nothing but clear loan waivers.&rdquo;<br /><br />It goes on to say that this &lsquo;writing off&rsquo; process reduces dividend of banks&rsquo; shares and incurs loss to the government. On the contrary when farmers are given loan waiver the amount is paid by the government without any loss to the banks and on the contrary their profits are increased.<br /><br />Agrowon ends by saying that it should &ldquo;therefore be noted that farmers are repaying their loans and only due to natural calamities and also some anti-farm government policies their monetary conditions are perturbed resulting in crisis.&rdquo; &nbsp;<br /><br />Please <a href="http://www.thehoot.org/media-watch/regional-media/do-farmers-disturb-credit-culture-more-than-industry-10049" title="http://www.thehoot.org/media-watch/regional-media/do-farmers-disturb-credit-culture-more-than-industry-10049">click here</a> to read more. <br /></div>'
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Do farmers disturb credit culture more than industry? -Prabhakar Kulkarni

-TheHoot.org Maharashtra’s farm daily Agrowon offered a counter to the SBI chief, the RBI governor, and English newspapers critical of the UP farm loan waiver. The Marathi agriculture daily Agrowon has criticized both the RBI governor Urjit Patel and State Bank of India’s Arundhati Bhattacharya  who have objected to the farm  loan waiver in Uttar Pradesh and similar demands elsewhere. The paper’s line is quite different from that of the mainstream English press which has been sharply critical of Yogi Adityanath’s Rs 36,359 crore munificence. Patel is quoted as having said, "I think it (loan waiver schemes) undermines an honest credit culture. It impacts credit discipline. It (impacts) incentives for future borrowers to repay. In another words, waivers engender moral hazard," he said after announcing the first bi-monthly monetary policy for 2017-18. He added that debt waivers also entail transfers from taxpayers to borrowers.  Then there was more. "If on account of this overall government borrowing goes up, yields on government bonds also get impacted. Thereafter, it can also lead to crowding of the private borrowers as higher government borrowing can lead to increasing cost of borrowing for others.” Agrowon responded in an editorial:  “The chief of  the State Bank of India Arundhati Bhattacharya has made a statement against the farmers’ loan waiver saying that farmers’ should not be given loan waiver because that disturbs the credit discipline. Following this the Governor of Reserve Bank of India Urjit Patel has also opposed the farmers’ loan waiver saying that would disturb the honest credit culture. These high level persons are opposing the move when at the highest level pro-farmer considerations are going on and demand for loan waiver is being put forth in many states. It adds, “In fact banks which were formerly limited for serving big industrialists were twice nationalized in order to provide benefits to farmers and common citizens. But these banks are providing credit to big industrialists thereby disturbing the very spirit of nationalization. The banks have two-fold policy of doing favour to big borrowers and disregarding any relief or due credit to farmers.”   The paper adds that  banks have followed one criteria while providing credit and waiver of loans to big industrialists and the other negative one for farmers and this amounts to double standards on the part of the banks. “There are large number of cases in the country wherein crores of rupees loans are given by banks sidetracking due rules and regulations. When these loans are not repaid they are shown as NPAs and later they are written off to clear the balance sheets. This process is going on every year. These written off cases are nothing but clear loan waivers.” It goes on to say that this ‘writing off’ process reduces dividend of banks’ shares and incurs loss to the government. On the contrary when farmers are given loan waiver the amount is paid by the government without any loss to the banks and on the contrary their profits are increased. Agrowon ends by saying that it should “therefore be noted that farmers are repaying their loans and only due to natural calamities and also some anti-farm government policies their monetary conditions are perturbed resulting in crisis.”   Please click here to read more.