-The Indian Express Urjit Patel has voiced concern publicly over the latest loan waiver — saying it engendered a moral hazard and undermined the honest credit culture. In February 1990, in the months preceding the build-up to the balance of payments crisis the next year, Madhu Dandavate, Finance Minister in V P Singh’s National Front government, announced a debt relief scheme for farmers to fulfill a promise made by the alliance in...

-The Times of India MUMBAI: Reserve Bank of India governor Urjit Patel has sounded the alarm on state governments waiving farm loans and has called for a consensus on eschewing them to avoid damaging the national balance sheet. Uttar Pradesh chief minister Yogi Aditya Nath recently announced a Rs 36,000-crore farm loan waiver, which could trigger copycat decisions by the Punjab and Maharashtra governments. "It undermines honest credit culture, it impacts credit...

-The Hindu ‘Time to build consensus on not making such poll promises’ Reserve Bank of India Governor Urjit Patel on Thursday stressed the need for building a national consensus on loan waiver schemes. Addressing a press conference here, he said this was needed so that promises such as loan waivers are not made during elections. “We need to create consensus so that such loan waiver promises are eschewed. Otherwise, sub-sovereign fiscal challenges in...

-PTI Besides Patel, Economic Affairs Secretary Sashikanta Das and Financial Services Secretary Anjuly Chib Duggal are also being asked to appear before the Committee. A Parliamentary panel has decided to summon Reserve Bank Governor Urjit Patel again to explain how much of the junked currency has been deposited in banks post note ban and the progress made in remonetisation. The meeting of the Standing Committees on Finance, headed by former cabinet minister M...

-Livemint.com The focus should be more on making the prime minister’s crop insurance scheme a success than demanding farm loans waivers from banks Last week, the Indian National Congress at the Maharashtra assembly submitted a breach of privilege notice against State Bank of India chairman Arundhati Bhattacharya for “insulting farmers and the House” by her remarks on farm loan waiver. The leader of the opposition in the state assembly, Radhakrishna Vikhe Patil,...