-The Indian Express First, it was demonetisation and crop price crash; now it is the collapse of cooperative credit that is hurting farmers during peak kharif operations. For most Maharashtra farmers, drying up of institutional finance for kharif farming operations is what’s really hurting. Nashik (Maharashtra): Last kharif, the Nashik District Central Cooperative Bank (NDCCB) disbursed Rs 1,608.55 crore of crop loans during April-June, exceeding its target of Rs 1,257.18 crore. This...
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Rs 34,000cr loan waiver
-PTI/ The Telegraph Mumbai: The BJP-led Maharashtra government today unveiled a Rs 34,020-crore farm loan waiver scheme, under which debt of up to Rs 1.5 lakh each will be written off, making 40 lakh farmers debt-free and providing relief to 49 lakh others. Chief minister Devendra Fadnavis said this was the "biggest" loan waiver scheme in the country. He said all BJP ministers and legislators would contribute a month's salary towards the...
More »How farm loan waivers can actually benefit the economy -Charan Singh
-The Financial Express The fastest-growing major economy of the world cannot ignore its farmers as there is a genuine need to help the farming sector which is suffering from stress on account of indebtedness. The banking industry is also not able to extend credit to those farmers who are in default. A loan waiver can help bankers to renew the loans, and farmers can use the borrowed money for production of...
More »Bleeding banks need more than a bandage -Shachi Singh
-GoI Monitor The NPAs have risen to Rs 10 lakh crore and farm loans make a very small portion of it. Will the recent RBI actions help? THE RESERVE Bank of India (RBI) has decided to act against 12 big corporates responsible for 25 per cent of the Rs 10 lakh-crore non-performing assets (NPAs) in Indian banks. However, despite Supreme Court's order in 2015, the RBI has refused to make the list...
More »Industry, not farm loans, responsible for majority of NPAs: report -Beena Parmar
-MoneyControl.com As per data from 2011 to 2016, the agriculture loan NPAs stood between 4-6 percent while the industry NPAs have consistently increased sharply from nearly 3 percent to 12 percent in 2016. Despite criticism on farm loan waivers, a data study shows that the increase in non-performing assets (NPAs) is contributed more by the industry than the agriculture sector. According to a study report by Anand Rathi, in terms of contribution to...
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