Haircuts are Good, Farm Loan Defaults are Bad – the Two-Faced Treatment of Waivers

Haircuts are Good, Farm Loan Defaults are Bad – the Two-Faced Treatment of Waivers

The argument needless to say is the fact that business loan waivers result in financial development. But how does Asia will not enable some businesses to get breasts?

India’s much-touted ‘growth story’ left the farmer behind long ago. Credit: Reuters

A farmer from Nandgarh Kotra village in Bathinda district in Punjab, was arrested after his cheque of Rs 4.34 lakh bounced in April this year, Karamjeet Singh.

Still in prison, he could be amongst a huge selection of farmers who have been delivered to prison for bounced cheques deposited for payment.

India’s credit policy has two faces: one when it online payday NY comes to rich, and another for the bad.

Let’s first have a look at the credit policy for farmers. The Punjab Agricultural developing Bank has offered appropriate notice to 12,625 farmers threatening to offer their farm land to recoup a highly skilled due of Rs 229.80-crore, at any given time if the Kolkata work bench associated with the National Company Law Tribunal has allowed just one single defaulting company – Adhunik Metaliks Ltd (AML) – to walk away with 92% ‘haircut’.

Read More