-The Hindu Huge subsidy of 5 percentage points being leveraged. Pointing to a possible diversion of subsidised funds meant for farmers to non-agricultural uses, a research paper by the Indian Council for Research on International Economic Relations (ICRIER) has found that the crop loans extended in India are in fact close to exceeding the total expenditure on farm sector inputs. In 2012-13, the aggregate short-term credit — provided primarily to finance the purchase...
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In a first, Solapur decides to give up on sugarcane cultivation -Ketaki Ghoge
-Hindustan Times Mumbai: For a state considered the sugar bowl of the country and home to generations of politically heavyweight co-operative doyens, this is a sign of changing times. The drought-prone Solapur district in western Maharashtra, which has the highest number of sugar factories in the state (33), has finally decided to put a stop to cultivation of the water-guzzling sugarcane crop, with its collector saying the area under cultivation for the...
More »₹1-lakh cr to be disbursed under MUDRA for micro-entrepreneurs -Shishir Sinha
-The Hindu Business Line Finance Minister meets bankers to set targets To promote very small businesses, the Centre aims to facilitate credit up to ₹1 lakh crore under the MUDRA scheme in the current fiscal. According to a senior government official, the credit facility issue was discussed at a meeting between the Finance Minister and bankers recently. It was proposed that for the current fiscal, the target under ‘Shishu’ category would be ₹40,000 crore,...
More »Credit blues hit kharif operations in Telangana -B Chandrashekhar
-The Hindu Hyderabad (Telengana): Delay in commencement of institutional credit disbursement likely to affect sowing. Credit requirement for kharif operations is nearly Rs. 26,000 crore. Notwithstanding the copious rains received in most parts of Telangana and availability of seed and fertilizer in ample quantities, the delay in commencement of institutional credit disbursement, crop loan release by Banks, is likely to affect the sowing operations in the current kharif season. Credit requirement Though the Agriculture...
More »Super rich defaulters push Indian Banks towards collapse
-DNA What is worse is that just the top 30 cases of default account for a Rs 1.21 lakh crore, which is almost 40% of the Non Performing Assets (NPAs) in Banks. The upper middle class, who usually takes loans of over Rs 1 crore, accounts for 33% of the total NPAs. It's not the poor farmers or the middle class who are defaulting on their loans. It's the country's super rich,...
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