-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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Yogendra Yadav, convenor of Swaraj Party, interviewed by Archana Mishra (GovernanceNow.com)
-GovernanceNow.com As farmers protests take centre stage across the country, Swaraj Party convenor explains the ecological, economic and existential crisis behind this unrest. * We have recently seen farmers from Tamil Nadu protesting in the national capital. Then Maharashtra farmers protested, deciding not to send their produce to cities. The agitation has now reached Madhya Pradesh, leading to killings. Why there is sudden farmers’ unrest in the country? I think we...
More »Maharastra farm loan waiver: Panel for blanket waiver in suicide-hit Vidarbha, Marathwada -Nanda Kasabe
-The Financial Express Pune: Prominent farm activist and current chairman of the special task force constituted by the government of Maharashtra on agrarian crisis, Kishore Tiwari, has urged CM Devendra Fadnavis to cover all the farmers of the 14 distressed districts of Vidarbha and Marathwada in the blanket loan waiver announced on Sunday without any conditions. Welcoming the loan waiver announced by the government, Tiwari said farmers in the distressed districts...
More »Auditor Extraordinaire: The Curious Case of NPA Underreporting in India -Hemindra Hazari
-TheWire.in At Axis Bank and Yes Bank, it appears that a single auditor of a member firm of Ernst and Young has overlooked gross NPAs of a staggering Rs 13,655 crore. Recently, Axis Bank and Yes Bank jolted the Indian banking community while releasing their annual results. Both banks disclosed a staggeringly large divergence between the banks’ audited accounts and the Reserve Bank of India’s (RBI) findings regarding bad loans on the...
More »Waiving loans doesn't end the distress -Rajalakshmi Nirmal
-The Hindu Business Line The solution lies in better prices for produce, generating non-farm income, and reducing costs of farming After the Yogi Adityanath government waived farm loans of about ?36,000 crore for UP farmers, pressure has mounted on other States to follow suit. But contrary to common belief, debt waivers aside from possibly guaranteeing electoral victory, do little to alleviate the plight of farmers. Neither do they help kick-start the rural...
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