Farm loans News

The Chhattisgarh Assembly elections will take place in two phases. The initial phase, encompassing 20 seats, is scheduled for November 7, while the remaining 70 seats will go to the polls on November 17.

He said farmer leaders had recently met him in Chandigarh with their demands and only one major issue that remained pending was that of farm debt.

In a stinging attack on what he described as crony capitalism, Rahul said the government has turned a blind eye to the loans given to 15 top industrialists of the country.

Madhya Pradesh remained largely calm on the third day (Sunday) of the 10-day agitation by farmers demanding remunerative prices for their produce and waiver of farm loans.

BJP's Karnataka unit chief BS Yeddyurappa on Wednesday threatened to launch a stir against the state government accusing Kumaraswamy of 'betraying' farmers.

The Union Cabinet on Wednesday approved the interest subvention scheme (ISS) for the year 2017-18 which will help farmers getting short term crop loan up to Rs 3 lakh payable within one year at only 4 percent per annum.

Finance Minister Arun Jaitley on Monday said the union government will not partake in state's fiscal leverage in waiving farm loans and made it clear that the cost has to be borne by them.

"All seven farmer organisations held dharnas outside the offices of all the deputy commissioners in the state in support of their demands.

He demanded an "unconditional apology" from Amit Shah.

Raising its concern on state governments waiving off farm loans, the Reserve Bank of India (RBI) on Wednesday said that such actions increase the risk of slippages and contribute to inflation sooner or later.

India`s finance minister Arun Jaitley said on Wednesday that the government has no plans to tax agricultural income, a day after a senior economic adviser touched a political nerve by proposing farmers pay income tax like people in cities.

Reeling under severe drought, Karnataka on Thursday urged the Centre to waive off 50 per cent of the farm loans, as the state government is ready to write off the rest.

In order to promote financial inclusion, a RBI panel on Monday asked banks to focus more on mobile technology for last mile service delivery, phasing out interest subsidy on farm loans and move towards universal insurance scheme for all crops.  

Even as Maharashtra initiates criminal proceedings against some banks for "not" meeting farm loan target, Reserve Bank Tuesday defended them saying lenders have been doing a commendable job in agriculture sector.

The Reserve Bank on Wednesday said it has instructed banks to restructure loans of farmers whose crops have been damaged by the recent unseasonal rains and hailstorms.