 "Yogi Adityanath")
The crop loan waiver announced by the Yogi Adityanath government in Uttar Pradesh is likely to stoke the microfinance sector as well and result in higher lending.
The Yogi cabinet had on April 4 announced to waive crop loan of Rs 30,729 crore, while an additional Rs 5,630 crore was announced to be written off in non-performing assets (NPA) accumulated by commercial and cooperative banks in the agricultural sector.
The total waiver had amounted to Rs 36,359 crore and it was projected to benefit roughly 8.6 million farmers, while another 7,00,000 farmers benefited from the NPA write-off, making them available to seek
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