Sukhminderpal Singh Grewal opposed RBI Governor Urijit Patel remarks on loan waiver to farmers

5 Dariya News

Bathinda (Goniana Mandi) 09-Apr-2017

National Secretary BJP Kisan Morcha Sukhminderpal Singh Grewal opposed Reserve Bank of India Governor Urijit Patel remarks on loan waiver to farmers. Talking with the media persons here today Grewal said since farmers are the country's biggest revenue earners, it is the duty and responsibility of the government-run banks to protect them during dire situations or when they are in trouble. He also appreciate Hon'ble National President BJP Kisan Morcha and Lok Sabha member from Uttar Pradesh Shri Virendra Singh Mast who countered Patel's opinion that such a move "undermines an honest credit culture" and could "affect the national balance sheet" and also talked about the "need to create a consensus such that loan waiver promises are eschewed." Grewal said that it's welknown to each and everybody that Urijit Patel heads the government's business, economic institution and hence he has looked at the issue from a business-economic perspective, but the job of the government is also to take a humanitarian view of things." He said that for banks the "maximum deposits come from the rural areas and most of the recovery of money also comes from farmers, hence it is some sort of a duty for them to stand by the farmers when they are in dire situations." So I t is a temporary measure and not a permanent move, the BJP Kisan Morcha clear adding, "when banks were nationalised in the country one of the purposes was to have 45% of their activity to help development in the country. Hence protecting farmers in need is a duty that banks cannot ignore." Hailing from a farming background himself BJP Kisan Morcha leader said that since 82% of the country's population constitutes of farmers who provide for maximum revenue to the government, it is the duty of the government and nationalised banks to bail them out when they are in trouble across the country.