-The Indian Express In Idukki and Wayanad districts, where the situation is more severe, the loans availed up to August 31, 2018, are being considered by the commission for debt relief and in other districts it is March 31, 2014. Thiruvananthapuram: Around 40,000 marginal farmers in Kerala have approached the State Agricultural Debt Relief Commission in the last five months, seeking a waiver of loans they have taken from cooperative banks,...
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Bank mergers don't address crux of crisis: The nexus between lenders, borrowers and election funding -Christophe Jaffrelot
-The Indian Express To understand what is at stake in the NPA story, one needs first to understand why the public sector banks lent so much money to companies which are today unable to pay it back. India’s economic crisis that is finding expression in low-growth rates and high unemployment rates is partly due to the decline of investments, which is partly due to the fact that companies cannot get access...
More »RBI imposes restrictions on PMC Bank; withdrawal restricted to Rs 1,000 per account
-PTI MUMBAI: The Reserve Bank of India has ordered Punjab and Maharashtra Co-operative (PMC) Bank not to do any business for six months and capped depositor withdrawals at Rs 1,000, throwing the lives of thousands of traders, self-employed and daily wage earners into disarray. The regulator has also appointed an administrator for the bank. Defaults appear to have surged in the past six months amid tight economic conditions and some lumpy loans...
More »Will our farmers be thrown out like stateless immigrants?
-The Telegraph More than half of the country's small and marginal farmers continue to be left out of the ambit of formal finance A recent report by the Reserve Bank of India found that despite a plethora of schemes aimed at financial inclusion, only 40.9 per cent of small and marginal farmers have so far been covered by the banking system. Small and marginal farmers are defined as those with operational land...
More »RBI panel questions efficacy of populists schemes for farmers, in favour of more structural changes -Atmadip Ray
-The Economic Times The group is also in favour of revising the sub-target for small and marginal farmers to 10% from the existing 8% of adjusted net bank credit with a roadmap of two years. KOLKATA: A Reserve Bank of India working group on agricultural credit has questioned the efficacy of populist measures such as debt waiver and interest subsidy on crop loans, while suggesting a slew of structural changes to boost...
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