-The Indian Express Urjit Patel has voiced concern publicly over the latest loan waiver — saying it engendered a moral hazard and undermined the honest credit culture. In February 1990, in the months preceding the build-up to the balance of payments crisis the next year, Madhu Dandavate, Finance Minister in V P Singh’s National Front government, announced a debt relief scheme for farmers to fulfill a promise made by the alliance in...
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Does the Banking System Really Want to Help Farmers? -Devinder Sharma
-TheWire.in The corporate sector is responsible for 70% of the country’s NPAs, but their loans are being waived off while waiving farming loans is still being frowned upon. The Gujarat government gave a loan of Rs 456.79 crore to the Tatas to set up the Nano plant at Sanand, near Ahmedabad. The Gujarat government has acknowledged that the massive loan was given at an interest of 0.1%, to be paid back in...
More »I-T shames defaulters, but most are 'untraceable'
-The Times of India NEW DELHI: In its drive against tax defaulters, the income tax department published a full-page advertisement in newspapers on Saturday naming 29 individuals and companies, asking them to `pay tax arrears immediately'. Many of these entities are `not traceable' in the department's records or have no assets to recover. The total arrears against them amounts to around Rs 448 crore. It seems the biggest tax defaulters are yet to...
More »Karnal, Patiala chosen as model districts to stop crop burning
-PTI Karnal in Haryana and Patiala in Punjab have been chosen as model districts for implementing orders to stop stubble burning, the National Green Tribunal has been informed. The state governments told the green panel that both these districts have been selected due to high rural population and agricultural activity in these areas. A bench headed by NGT Chairperson Justice Swatanter Kumar directed the Haryana and Punjab governments to submit complete action plans...
More »SC: Make public list of corporate loan defaulters -Dhananjay Mahapatra
-The Times of India NEW DELHI: A list of corporate loan defaulters will soon be made public as the Supreme Court directed the Centre on Tuesday to provide a compendium of corporate entities, who owe Rs 500 crore or more to banks, in four weeks. A bench of Chief Justice TS Thakur and Justices A M Khanwilkar and D Y Chandrachud brushed aside the RBI's objections in October against making public...
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