SBI is a Govt Bank,So it should not stop giving loans to the farmers.Because all the farmers are not benifited from the govt initiative of waiving off the loans,its only applicable to certain class of farmers.What about the remaining farmers who is neither benefited from the bank nor the Govt?If SBI starts doing this then it will be the path maker for the rest of the nationalised banks.
( Posted: Tuesday , May 20, 2008 at 11:57 )
Rajan
Farmers are indeed the first citizens of this country for they are pampered so much by the ruling governments that they take things for granted. They make mockery of the system, default loans, get them waived at will, use tractors for non agricultural purposes, no maintenance as not their money, no income tax as always bankrupt-What a business to be in with no commitments, but all comforts. Most others claim they are job less as they do less of a job!! Commitment is the seed sown to reap the benefits of success. The government should not loan them to buy the tractors, but buy the tractors and loan it to them on rent with the commitment that rent will be recovered from the produce sale. If meagre or no sale, the tractor will be taken back and given to others. This way the govt.is held accountable to the people. Do they ever see such economics, only time will tell.
( Posted: Tuesday , May 20, 2008 at 10:24 )
B S GANESH
Loan waival is another method of corruption adopted by our politicians. In Karnataka Deve Gowda is promising that if his party comes to power all loans would be waived. This also acts as encouragement to take loans and default. This also benefits middlemen who get fat commission and make poor poorer. What a pity when are our worthy/unworthy politicians learn good governance service, sacrifice and patriotism. B S GANESH BANGALORE
( Posted: Tuesday , May 20, 2008 at 08:03 )
Venu
This is the best step any bank can take.
We give free power, no income-tax and now waive all the loans they have taken and then expect our banks to pay give out the loans...then who repays them...the government who passed the law / the politicians who will do anything to stay in power who???
The communists are the worst thing that could have happened to our country...they want us to stay backward while our closest neighbour and large communist nation embraces capitalism and free market economy with open arms!
( Posted: Tuesday , May 20, 2008 at 03:57 )
D J BALAJI
It is inevitable. Loans can be waived off or the interest part can be waived off. A Government waiving entire loan clearly indicates that it is sabotage by an Government. Can any (ruling/ruled) of the Government justify that farmers suicide are because of loans. Why Government has not taken any steps to waive off loans taken from small time money lenders/multinational banks which charges abnormal interest and save the poor and middle class people? Government can wipe off only nationalized banks. Government has not touched neither the foreign banks or local money lenders. What the nationalized banks will do? Selected parties are interested about their family and never mind about our country. If the same continues our country will become next Nigeria.
( Posted: Monday , May 19, 2008 at 21:47 )
Sachin Purohit
Await the news that Chairman of SBI O.P.Bhatt is being sacked for this act of "revolt" against government decision. This is what happens everytime a PSU chairman dares to show prudence and acts on behalf of the shareholders of the company. This is exactly what happened to ONGC's CMD Subir Raha. He was shown the doors when he protested against the subsidy regime forced upon oil companies.
( Posted: Monday , May 19, 2008 at 21:10 )
Shyamal Bhattacharjee
Dear Sir, This is yet another gimmick for pulling the votes into the wallet of the UPA.
OK, agreed thta this was a good move, but the question is-: This will create a drawback and the shortages of the resources in terms of the money that will fall into the laps ofthe respective bank. Where will the Government equalise the shortfall from, and make it square .Will it not burden the tax payers. Suppose the Government goes up to the risk of adding this as a loss to its budgets, and if the government puts in a deficit budget, adding this loss to its budget, then for making it, will the Government raise the duties and the taxes of some other items like the gas or the petroleum, the question is will it not pinch the pocket of the commom man. Inflation is at its wits end, and adding these kind of looses will actify, and radiate the inflation more, which is again a danger. The UPA has again fialed in its attempt to tackle this problem using its brain.It is only the vote bank policy which they have played. Not a very wise decision at this stage of inflation. Thanks Regards Shyamal Bhattacharjee Bangalore
( Posted: Monday , May 19, 2008 at 17:42 )
Mariadoss
SBI has become more commercial like private banks. Though it hold major Govt. money through which it earns lot, it don't want to go with Govt. Among Nationalized banks SBI only charges 37.2% interest per annum for its credit card customers which is equal to ICICI bank whereas IBO charges only 16% interest. This shows it's poor social commitment. However it has to lend 18% of its total lending amount to agriculture sector as per RBI guidelines.
( Posted: Monday , May 19, 2008 at 17:07 )
Manoj
Chidambaram has no right to pass his debts to the Nationalized Banks. And, yet he wants SBI to compete in the market place. Mr. Bhat has rightly stopped bad loans unless the Nationalized Banks are compensated, especially by its competitors like Citibank. To me, it looks as if Chidambaram has been bribed by Citibank to kill all competitiveness of the Nationalized Banks.
( Posted: Monday , May 19, 2008 at 16:41 )
Add Your Comment
Do not be rude to other users/authors or disrupt an ongoing conversation/debate. Do not use ethnic slurs, engage in personal insults or use objectionable language. Criticism, when constructive and non-disruptive is always welcome. Comments with links in them won't be published other than in cases of rare exceptions. Comments that include personal details such as postal addresses and telephone numbers will not be published. Keep the comments relevant to the topic as much as possible. Do not impersonate another reader or a public figure. Do try to use English to write your comments.
Please enable javascript in your browser to use this form.
Disclaimer
All the content posted under the 'Comments' category are made by the readers of CNN-IBN, unless specified otherwise. CNN-IBN is not responsible for the opinions of the readers and the content posted by the readers are not representative of the views and opinions of CNN-IBN.
Do not be rude to other users/authors or disrupt an ongoing conversation/debate.
