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Bad Loans Troubles: States Must Bear Farm Loan Waiver Costs, Arun Jaitley Says
June 15, 2017
Finance Minister Arun Jaitley met with the chiefs of several Public Sector Banks yesterday where they discussed the solutions for the non-performing assets that are acting as a hindrance for the economy. He said that with 81 bankruptcy cases already registered, RBI is finalizing the list of the debtors where resolution is necessary.
Talking about the issue of farm loan waivers, Jaitley said that the states entertaining such waivers must arrange the capital using their resources. This comes soon after the Maharashtra government announced a 100% loan waiver for the state farmers. As per the reports, the state government will need to generate Rs. 1.14 lakh crore for completely waiving the loans.
