-PTI About Rs. 1.47 lakh crore of agricultural loans are outstanding in Madhya Pradesh, Rajasthan and Chhattisgarh Asian Development Bank (ADB) Country Director Kenichi Yokoyama Friday said farm loan waivers were against economic principles and cannot effectively address the agrarian distress. Yokoyama also advocated for direct transfer of funds to targeted beneficiaries as it would cut down leakages. On farm loan waiver, he said most of the people are sceptical about it as an...
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Hope with concerns in 2019 -C Rangarajan
-The Hindu Five issues need to be addressed comprehensively if India is to achieve sustained high growth The New Year is always looked forward to with hope, whatever the conditions might have been the previous year; 2018 has been a mixed bag, both globally and domestically. Globally, the growth rate in 2018 was high, particularly in the United States. But strong signs of a trade war emerged, dimming hopes of faster international trade....
More »Banks lost Rs 41,167 crore to fraud in 2017-18: RBI -George Mathew
-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...
More »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 »Without Rise in Farm Income, Congress' Loan Waivers Won't End Rural Distress -Kabir Agarwal
-TheWire.in Implementing the loan waiver in Chhattisgarh, MP and Rajasthan will not be easy. It will cost Rs 80,000 crore and might need the states to double the spending on agriculture. New Delhi: On Monday, the newly appointed chief minister of Madhya Pradesh, Kamal Nath, proudly announced that his first executive decision was to waive farm loans in the state. While campaigning for the assembly elections, the Congress party had promised that if...
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