Thursday, 6 April 2017

RBI governor takes a subtle dig at farm loan waivers, says it impacts credit discipline

In his monetary policy review meet on Thursday, RBI governor Urjit Patel may have taken a subtle dig at farmer loan waivers, the recent one being the Rs 36,359 crore relief announced by UP chief minister Yogi Adityanath for small and marginal farmers in the state. "Farm loan waiver undermines honest credit culture, impacts credit discipline," Patel said in the meet, highlighting the worry over the structure of public finance and health of banks and the relationship formal lending institutions have with farmers.

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