-Business Standard A clear picture is likely to emerge only towards the end of June Mumbai: Rural distress owing to heavy unseasonal rains in March and the prospects of less-than-normal monsoon have made bankers “a cautious lot” at the start of this financial year. However, it is too early to conclude that the impact of rains, or the lack of it, would be bad. According to public sector bank executives, the assessment for...
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40% of India still banks on monsoon for agriculture -Subodh Varma
-The Times of India In the 21st century, why does the forecast of a Deficient Monsoon send the same ripple of fear through India as it would 5,000 years ago? The short answer is that for almost 40% of the population, agriculture has not changed — it is still dependent on the "rain god", or the South-West monsoon as it is known today. Here are the facts: about 46% of India's net...
More »MGNREGS as insurance
-The Hindu With unseasonal rain laying waste vast areas under the rabi crop in north India earlier this year and the threat of a Deficient Monsoon looming, the Mahatma Gandhi National Rural Employment Guarantee Scheme could act as a real salve for distressed farm workers and labourers. The World Bank’s brief statement on the scheme on Tuesday to this effect, as part of its latest India Development Update, concurs with recent...
More »Low rainfall may affect bank non-performing assets
-Livemint.com/ India Ratings Report by India Ratings & Research Non-performing loan ratio of agriculture loan portfolio could double for some banks The asset quality of India’s agricultural credit could be significantly affected by crop damage due to untimely hail and rain in March, according to India Ratings and Research. The non-performing loan (NPL) ratio of the agriculture loan portfolio could double for some banks, though the reduction of overall return on average assets...
More »Challenge of agrarian distress
-The Hindu Everything else can wait but agriculture cannot, said Jawaharlal Nehru. This should have been the talisman for India’s progress. Yet, successive governments have failed to accord agriculture the priority it deserves. The tragic suicide of a farmer during an Aam Aadmi Party rally in New Delhi has brought to the fore the agrarian crisis facing India. Official records reveal that more than 2.96 lakh farmers have ended their lives...
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