Focus on sustainability of agriculture, not loan waivers, says RBI

RBI panel says banks should partner agri-tech firms to provide quick loans to farmers

An internal working group of the Reserve Bank of India (RBI) to review agricultural credit has said loan waivers should be avoided and the focus should instead be on improving the viability and sustainability of agriculture.
 
There should also be a formal institution set up by the government, on the lines of the goods and services tax (GST) tribunal, which can suggest ways to improve credit to the agriculture sector, the group’s report said.
 
It also suggested higher scrutiny on loans raised against gold, and said banks’ systems should be able to flag such loans to enable close