UP government waives off crop loan; banks may bear the brunt
The newly elected government of Uttar Pradesh brings much-awaited relief for the debt-shackled farmers of the State, as the government, led by the Chief Minister, Yogi Adityanath, has decided to wave off crop loans up to Rs 1 lakh for about 21.5 million small and marginal farmers.
This step would supply the much-needed oxygen to Bullion Tips the farmers who are crippled by the crop loans, but this might increase the burden of NPAs on the banks. In the recent past, several banks have raised concerns over the piling bad loans that have completely punctured the growth of the banking sector of the country. The agriculture industry is subdivided into different segments. The agriculture GDP is expected to grow at 4.1% to Rs 1.11 trillion (US$ 1,640 billion), according to the Central Statistics Office (CSO).Free Ncdex Tips