-FirstPost.com Travelling across the country for the past five months to bring farmers’ voices to urban audiences through a programme called ‘Smart Agriculture’ - to be broadcast every Saturday and Sunday from 25 July on CNN-IBN - we have learnt that agriculture is not a low-profit activity. In fact, it returns more than double the amount of cash invested. Sandipan Suman, a 47 year-old agricultural sciences graduate and maize grower in Bihar’s...
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How loan sharks pull poor farmers into a debt trap -Naheed Ataulla & Anand J
-The Times of India As crops fail, banks don't deliver and the government falters, Mandya's farmers find themselves at the mercy of unscrupulous moneylenders Chenne Gowda has a Rs. 4 lakh albatross around his neck. The 55-year-old sugarcane farmer from Chikka maralli village in Pan davapura taluk, Mandya district, took the loan from private moneylenders but has no idea how he'll repay. His crop, on two acres, is wilting in the field...
More »Properly used, Jan Dhan Yojna could lessen farmers' suicides
-Hindustan Times For a country that is set to be ranked among the world’s top five economies over the next decade, India cannot afford to be counted as a home for impoverished farmers who are ending their lives because they do not have the money to return loans as small as Rs 10,000. According to the National Crime Records Bureau (NCRB) data, 5,650 farmers committed suicide in India last year. Bankruptcy and...
More »Decoding Karnataka debt trap: Rise of a new breed of private moneylenders -Sowmya Aji
-The Economic Times MANDYA: A new breed of moneylenders has pushed farmers of moneyed Mandya district in Karnataka into an endless debt trap, leading to mounting suicides, even as the institutionalised credit system has failed them. The system is so well entrenched that the borrowers themselves are taking steps to protect the moneylenders from a government crackdown on the practice. Farmers — big, small and marginal — have taken loans from private...
More »Too early to say deficit monsoon to hit rural lending -Abhijit Lele
-Business Standard A clear picture is likely to emerge only towards the end of June Mumbai: Rural distress owing to heavy unseasonal rains in March and the prospects of less-than-normal monsoon have made bankers “a cautious lot” at the start of this financial year. However, it is too early to conclude that the impact of rains, or the lack of it, would be bad. According to public sector bank executives, the assessment for...
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