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In Telangana, caught between life and debt

Ravi’s wife Yadamma now works as a farm labourer to support her sons. (Source: Harsha Vadlamani) Written by Sreenivas Janyala | Karimnagar |Posted: November 20, 2014 4:30 am On the night of July 4, Korishala Ravi stepped out of his house that is right across a branch of the State Bank of Hyderabad in Kodakandla village of Medak district in Telangana. The 35-year-old farmer had applied for a loan to the branch three times but his plea was rejected each time, forcing him to turn to moneylenders. Few hours later, not too far away from the bank branch, he was found dead, his body hanging from a tree. Ravi’s village […]

Memorandum to AP Chief Secretary on Loan Waiver

140622 Chief Secretary Telangana final Download Rytu Swarajya Vedhika has a submitted a memorandum with the following demands. As a first measure, the Government must delink the loan waiver proposal from distribution of Kharif loans for the current agricultural season and should immediately take action to disburse crop loans  without delay to all the farmers including Tenant farmers. While the farming community is in deep crisis due to indebtedness, loan waiver is not a solution to end the crisis. The crisis is still continuing even after the debt waiver and relief extended during 2008.   A comprehensive solution lies in bringing in policy changes related to all aspects of agriculture (Credit, input […]

The real cost of credit constraints: Evidence from micro-finance

Renuka Sane, (renuka@saner.org.in), (Indira Gandhi Institute of Development Research) Susan Thomas (susant@igidr.ac.in), (Indira Gandhi Institute of Development Research) In December 2010, the Indian state of Andhra Pradesh passed a law that severely restricted the operations of micro-finance institutions and brought the micro-finance industry to an abrupt halt. We measure the impact of micro-credit withdrawal in this unique natural experiment and find that average household expenditure dropped by 19 percent relative to a control group after the ban. The largest decrease was observed in expenditure on food. There is some evidence of higher volatility in consumption after the ban. All households were affected and not just the borrower households, which may […]

వచ్చే ఆర్థిక సంవత్సరంలో వ్యవ’సాయం’ రూ.63వేల కోట్లు నాబార్డు ప్రతిపాదనలు

హైదరాబాద్, ఫిబ్రవరి 14: వచ్చే ఆర్థిక సంవత్సరంలో వివిధ రంగాలకు రుణ మంజూరుపై నా బార్డు కసరత్తు చేస్తోంది. ఇందులో భాగంగా వ్యవసాయానికి దాదాపు రూ. 63 కోట్ల మేర ఇచ్చేవిధంగా ప్రతిపాదనలు సిద్ధం చేసింది. ఈ మేరకు స్వల్ప, దీర్ఘకాలిక రుణాల కింద రూ.59818.95 కోట్లు, భూమి అభివృద్ధికి రూ. 654.75 కోట్లు, యాంత్రీకరణకు రూ.2432.12 కోట్ల మం జూరుకు ప్రతిపాదించింది. వీటిని రాష్ట్రస్థాయి బ్యాంకర్ల కమిటీ (ఎస్ఎల్‌బీసీ)కి పంపనున్న నేపథ్యంలో సోమవారం వ్యవసాయశాఖ అధికారులతో సమావేశమై సూచనలు స్వీకరించింది. ఈ సందర్భంగా అధికారులు వివిధ అంశాలను ప్రస్తావించారు.  సమస్యల పరిష్కారానికి చొరవ చూపాలని నాబార్డు ఉన్నతాధికారులను కోరారు. ఇక నీటిపారుదల రంగానికి రూ.1061.38 కోట్లు, ఉద్యాన రంగానికి రూ.1441.72 కోట్లు ప్రతిపాదించింది. ఇక పశు సంవర్ధక శాఖ కింద రూ.2113.05 కోట్లు పాడి పరిశ్రమాభివృద్ధికి, రూ.1088.16 కోట్లు పౌల్ట్రీకి, రూ. 554.43 కోట్లు మేకలు, పందుల పెంపకానికి ప్రతిపాదించారు. మత్స్యరంగానికి రూ.1320.06 కోట్లు నాబార్డు ప్రతిపాదించింది. ఫుడ్ ప్రాసెసింగ్‌కు రూ.637.69 కోట్లు ప్రతిపాదించారు. […]

No access to credit to Tenant Farmers in AP: RDI Study

A study done by Rural Development Institute in 22 villages in Warangal, Nalgonda,Vishakapatnam, East Godavari and Kurnool districts of AP concluded that tenant farmers access to credit is still very low inspite of govt initiating loan eligibility cards As per the revenue records AP has 17,47,901 tenant farmers during 2011-12, 6,80,226 tenant farmers have applied for loan eligibility cards and 5,13,655 of them have received the card.  in this only 2,37,522 have renewed during the following year situation became worse in 2012-13. only 4,80,083 tenant farmers have applied and 3,95,207 farmers have received the cards 2011-12 the total agricultural credit received by tenant farmers is Rs. 390 cr which about […]

State gets more teeth to curb moneylenders: Maharastra clears Maharastra Moneylenders (Rules) Act 2009

http://www.freepressjournal.in/FPJ/FPJ/2010/02/25/ArticleHtmls/25_02_2010_011_013.shtml?Mode=1 THE State Cabinet on Wednesday cleared the Maha- rashtra Moneylenders (Rules) Act, 2009 for implementation in the state. This new act will replace the Bombay Money- lenders Act, 1946 that was amended in 2006. Since the last three years, the law had been awaiting a formal nod from the Central Government. Though the Central nod was received last year, the implementation of this Act got further delayed due to the elections held then. Subsequently, this Act was re- introduced in the cabinet on Wednesday and formally cleared. The provisions of this Act will be announced in the form of a government resolu- tion after the nitty-gritties are worked out. […]

Maharashtra to announce Rs 5,000 cr farm loan waiver

http://www.business-standard.com/india/news/maharashtra-to-announce-rs-5000-cr-farm-loan-waiver/00/36/344103/ Makarand Gadgil / Mumbai December 23, 2008, 0:27 IST With the Lok Sabha elections around the corner, the Maharashtra government is set to announce another farm loan waiver package to cover all those who were excluded by the central government’s waiver package. The latest package is likely to cost between Rs 5,000 crore and Rs 7,000 crore, and benefit 2.7 million farmers. A senior minister in the state cabinet said: “During the monsoon session of the state Assembly, the government had promised a loan waiver package for those not covered by the central government’s Rs 71,000 crore loan waiver scheme. We will be announcing this during the winter session.” […]

Govt modifies rehab package for suicide-prone districts

CABINET DECIDES BS Reporter / New Delhi October 09, 2008, 1:25 IST The government today modified the rehabilitation package for the farmers in suicide prone districts of Andhra Pradesh, Karnataka, Kerala and Maharashtra. The government had earlier announced a rehabilitation package on September 29, 2006 for 31 identified districts in Andhra Pradesh, Karnataka, Kerala and Maharashtra, involving a total amount of Rs 16,978 crore. After the feedback from implementing agencies, the Union Cabinet today decided to extend the period for implementation of the non-credit component of the package by two more years or up to September 30, 2011. It has also given in-principle approval for provision of need-based additional financial […]

Turnaround of rural banks has in fact worked as a turn-away strategy

By – P S M Rao Focus on profitability has taken them away from the original goals and left them trailing other banksBangla Gramin Bank, the brainchild of Muhammad Yunus, is treated as a success story in providing credit to the poor. The bank has, jointly with its founder, a Nobel Prize to boast of and there has been a rapid spread of its replicas across the globe to reap similar benefit.India’s own Gramin Banks, the regional rural banks (RRBs), are a success story, too, for a different reason. These banks have shown tremendous improvement in their financial performance as a result of several revamping measures the government has implemented, […]

Less for farmers, more for votes

http://ultracurrents.blogspot.com/ By N.C. De NSS data and other studies have shown that the income of farmers have been low and stagnant due to several problems viz. increasing risk and uncertainty in cultivation, absence of a proper crop insurance scheme, spurious seeds and pesticide serious water problems, lack of extension services particularly for commercial crops, lack of proper marketing, remunerative prices for their crops, lack of irrigation facilities, lack of non-farm activities in rural areas and lack of health facilities. Finance Minister is non-attentive to these problems. As this huge amounts were not written off, banks have to keep it as their assets and have to bear the consequent burden of […]

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