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Do farmers disturb credit culture more than industry? -Prabhakar Kulkarni

-TheHoot.org Maharashtra’s farm daily Agrowon offered a counter to the SBI chief, the RBI governor, and English newspapers critical of the UP farm loan waiver. The Marathi agriculture daily Agrowon has criticized both the RBI governor Urjit Patel and State Bank of India’s Arundhati Bhattacharya  who have objected to the farm  loan waiver in Uttar Pradesh and similar demands elsewhere. The paper’s line is quite different from that of the mainstream English...

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Yogi waives farm loans up to Rs. 1 lakh -Omar Rashid

-The Hindu The UP govt will also settle around Rs. 6,000 crore of NPAs of 7 lakh small and marginalised farmers. Lucknow: The Yogi Adityanath-led BJP government in Uttar Pradesh, at its first Cabinet meeting on Tuesday, announced its decision to waive farmers’ loans worth Rs. 30,729 crore, writing off all farm loans up to Rs. 1 lakh. The government will also settle around Rs. 6,000 crore of NPAs of seven lakh...

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Does the Banking System Really Want to Help Farmers? -Devinder Sharma

-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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Demonetisation sucked in cash like vacuum cleaner: IMF

-PTI “Repercussions from the currency exchange initiative will likely persist through the first quarter of 2017.” Washington: India’s demonetisation led to huge cash shortages that have “adversely affected” consumption and like a “vacuum cleaner” it sucked in cash and then was slowly replacing the currency, a senior IMF official has said. “You’ve heard about so-called ‘helicopter drops’ of money with unconventional monetary policies, so one way to characterise this demonetisation initiative is as...

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M Govinda Rao, ex-Director, National Institute of Public Finance and Policy (2003-13), interviewed by S Rajendran (The Hindu)

-The Hindu Centre for Politics and Public Policy Prime Minister Narendra Modi's announcement demonetising high denomination notes on November 8, 2016, will do little to address the prime objective of flushing out black money but will adversely affect the economy in the short term, especially the informal sector, which is predominant in India, says M. Govinda Rao, a Member of the Fourteenth Finance Commission and Emeritus Professor, National Institute of Public...

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