-The Hindu Thiruvananthapuram (Kerala): The government is considering a proposal to exempt stamp duty on agricultural loans issued by commercial banks. Finance Minister K.M. Mani told a meeting of the State Level Bankers Committee (SLBC) here on Monday that a decision on the issue would be taken soon after assessing the financial implications. Pointing to the substantial share of commercial banks in primary sector credit, the last meeting of the SLBC had...
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Clarity on loan waivers
-The Asian Age Reserve Bank deputy governor K.C. Chakraborty has finally set the record straight on what is well known in left-wing development circles: that Corporate India's loans waived by banks are more (over Rs. 1 lakh crore in the past 13 years) than farm loans to the tune of Rs. 60,000 crores written off under the Debt Waiver and Debt Relief Scheme. More revealing is that medium and large units have...
More »Women SHGs to get loans at lower rates - Elizabeth Roche
-Live Mint Cabinet clears proposal to give loans at 7% interest rate, and 4% if SHGs repay loans within the stipulated period The federal cabinet has cleared a proposal to give loans to women self-help groups (SHGs) at 7% interest rate, cheaper than the existing 11.5-14%, bringing the cost of loans on a par with those given to farmers. SHGs that repay loans within the stipulated period will be eligible for loans at...
More »Kisan Credit Cards: Bad loan bubble waiting to burst?-Dinesh Unnikrishnan
-Live Mint Subsidized loans given to farmers through KCCs could very well be the next big source of NPAs for banks Mumbai: A surge in exposure to farm debt through Kisan Credit Cards (KCCs) could emerge as a risk for India's state-run banks, according to experts. Subsidized loans are given to farmers through KCCs by state-owned banks. Until March 2012, the outstanding amount on such loans was`1.6 trillion through 20.3 million cards, as...
More »Budget 2013: Crop loans from private banks will be subsidised too-Atmadip Ray
-The Economic Tiomes Farmers borrowing crop loans from private banks will also get government's interest subvention scheme, finance minister P Chidambaram said in his 2013 Budget speech. At present, farmers used to get crop loans at a subsidised 4% a year rate from public sector banks, regional banks and cooperative banks if they repay in time. Farmers who repay loans in time, gets an additional 1% interest subvention from the government over and...
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