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SLBC notice: A showdown with govt on farm loan recovery likely

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SLBC notice: A showdown with govt on farm loan recovery likely
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Thiruvananthapuram: The State Level Bankers' Committee (SLBC) has nodded in favour of banks proceeding with revenue recovery for default on farmers’ loans. This is albeit the government’s declared stand against such recoveries.

A public notice issued by SLBC in newspapers on Sunday said that banks could go ahead with revenue recovery proceedings in the absence of RBI approval for the proposal to extend the moratorium till December 31.   

Banks could not offer any concession beyond July 31 as per the decision taken at a post-flood emergency meeting held in August last, it said.

Agriculture Minister V.S. Sunil Kumar reacted that the RBI had not categorically rejected the plea for extension.  Given this situation, observers say that the stand of banks may make for a showdown with the government.

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