Policy balance
The recent appointment of Sanjay Malhotra as Governor of the Reserve Bank of India (RBI), replacing Shaktikanta Das, signals a pivotal shift in India’s monetary policy dynamics.
Karnataka’s Bharatiya Janata Party government is all set to announce a loan waiver for the families of farmers who have lost their bread winner to Covid. As many as 10,187 farmers across the state have died from coronavirus.
The government has completed the process of identifying the beneficiaries. The loan amount is calculated at Rs 79.47 crores taken from banks and Agricultural Cooperative Societies.
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A meeting will be held with the apex bank management to ensure smooth and quicker processing of the loan waiver. A special meeting has also been called on Saturday to formulate guidelines in this connection.
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“The scheme is being implemented as the family which has lost their bread winner will be facing financial crisis and they won’t be in a position to repay loans. A decision will be taken in three-four days,” S T Somashekar, minister for cooperation, said.
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