-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...
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Why Are Banks Deducting Money From Farmers' Accounts Without Permission? -Nitika Kakkar and Deepak Vaishnav
-TheWire.in Banks are deducting ‘crop insurance premiums’ from farmers’ current accounts without their knowledge. In the Bhivani district of Haryana, a 49-year-old farmer, Bansi Lal, complained that Rs 2,480 was deducted from an account that was linked to his Kissan Credit Card (KCC), without his knowledge. Upon enquiry, the bank informed him that the money was deducted under the Pradhan Mantri Fasal Bima Yojna (PMFBY). But when he told the bank that...
More »Farm loan waiver is no solution for Indian agriculture
-Livemint.com In the case of repeated farm loan waivers, it makes sense for borrowers to default strategically Hope: The Narendra Modi government says it wants to double farm income by 2022 through the transformation of Indian agriculture. Reality: The political discourse continues to focus perversely on farm loan waivers. Here are some recent instances. The new Bharatiya Janata Party government in Uttar Pradesh is considering a farm loan waiver as promised in its election...
More »Note ban effect: Debit cards preferred over credit cards, account for 60% of card spend -Mayur Shetty
-The Times of India MUMBAI: Debit cards have conclusively displaced credit cards as the primary mode of payment in the country following demonetisation. Until October last year, despite outnumbering credit cards by a factor of more than 25, debit cards accounted for only 42% of the total card spend. This has jumped to 60% after demonetisation, which was announced on November 8, 2016. The change is largely driven by small public sector...
More »Why I would not advocate vegetarianism -Sunita Narain
-Down to Earth Meat eating is not the key issue, it is the amount that is consumed and the manner in which it is produced. This is where India differs. Recently at the release of our book First Food: Culture of Taste, which discusses the link between biodiversity, nutrition and livelihoods, I was asked a question. “Why do you not, as an environmentalist espousing the cause of traditional and local diets that...
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