Farm Loan Waiver

My last blog was 7th September 2016 and I picked the topic regarding credit card security so that people can also know whether their credit card being hacked or not and after that time I've seen so many changes in Indian Politics and economic. 
Our Prime Minister Narendra Modi again made a History through his unbeaten victory and Now BJP has captured Utter pradesh and BJP has given Chief Minster Mr. Aditya Nath Yogi. now I will update you latest new which related to. Farm Loan Waiver.

Farm loan waiver: After RBI, now Nabard says it's a 'moral hazard', only target the needy.
The National Bank for Agriculture and Rural Development (Nabard) on Tuesday described farm loan waivers as a "moral hazard" and said such facilities should be targeted only to the needy.

"Debt waivers create a moral hazard from a credit repayment perspective and we cannot have omnibus waivers," chairman Harsh Kumar Bhanwala told reporters here, a week after UP government announced a INR 36,000-crore farm loan waiver package.

With demands for similar measures on in other states like Haryana, Maharashtra and Tamil Nadu, Bhanwala said there is a need to look at the moral hazards which such schemes create and targeting such schemes only to the needy farmers.
He said every time a debt waiver is announced, it is taxpayers' money which is used to help bail out the farmers.

Representational image. Reuters

The comments come days after Reserve Bank Governor Urjit Patel also expressed strong displeasure over such measures.
Nabard on Tuesday reported a 4.24 percent increase in its post tax net for 2016-17 at Rs 2,631 crore, and a 16.27 percent expansion in its outstanding loans at Rs 3.08 trillion.
Bhanwala said the development finance institution, which primarily refinances banks' agri loans, feels that the financial sector is set to surpass the Rs 9 trillion agri loans target for fiscal 2017 set by government and will repeat the performance in fiscal 2018 by exceeding the Rs 10 trillion target.
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