-The Indian Express There were 5,917 instances of Bank fraud in 2017-18 as against 5,076 cases the previous year, show the data released Friday. Fraudsters have looted Rs 41,167.7 crore from the Banking system in 2017-18, a sharp jump of 72 per cent from Rs 23,933 crore the previous year, despite “stringent monitoring and vigilance”, according to data released by the Reserve Bank of India (RBI). There were 5,917 instances of Bank...
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An outstanding alternative to farm loan waiver -Suman Layak
-The Economic Times The world is no stranger to farm debt crises like the one India is seeing today. Back in the 1980s, the Canadian parliament enacted a law to stop foreclosures on farm debt, after prices collapsed and interest rates jumped to as high as 24%. The law was in force for a dozen-odd years. It identified insolvent farmers, facilitated agreements between the borrowers and lenders, and helped some farmers move...
More »Telangana is Proof Farm Loan Waivers Aren't a Long-Term Solution -Siraj Hussain
-TheWire.in The government has to evolve policies suitable to a particular state and fine-tune them according to local needs. ‘Nothing succeeds like success,’ first written by Sir Arthur Helps in Realmah in 1868, is going to guide political parties while they draft manifestos for the next parliamentary election. It seems that the Rythu Bandhu (RB) scheme – also known as the Telangana model of direct investment support (DIS) to farmers – has...
More »A double-edge sword for farmers -- Loan waivers shrink credit supply to the farm sector -Kushankur Dey
-Financial Express Farm loan waivers—of more than Rs 850 billion in FY18 and FY19, announced by various state governments—are the flavour of the season. This can affect credit offtake and induce further stress for Banks and amount to another agrarian crisis. Farm sector NPAs accounted for 16% of Banks’ advances under the priority sector lending in October 2018. Post the early waiver-announcements, credit growth in agriculture and allied activities has been...
More »An attempt to understand and contextualise farmer suicides -MS Sriram
-Livemint.com Some perspectives on the issue seem to paper over the problem and get into comparisons There is much discourse on both the issue of agrarian distress and farmer suicides. However, there have been some arguments that seem to paper over the problem and get into comparisons—that the people who committed suicide just happened to be farmers; that they were not poor; that (as argued by Shamika Ravi of Brookings India) the...
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