Bank loans recovery operations in Vidarbha

January 8, 2008 in chandrababu, coalition, debacle, himachal, imbalances, loan, loans, naidu, narmada, party, recovery, regional, samajwadi, singh, state, UPA, vidarbha, water

While the IAS bureaucrats in charge of Relief operations in Vidarbha, like Shri Sudhir Kumar Goyal, are vigourously denying, forcible recovery of loans, from indebted and defaulting cotton farmers in Vidarbha, by banks and private money lenders, Vidarbha Janandolan Samiti alleges that most of the farmers were the victims of ongoing loan recovery drive of the banks.
The much hyped Prime Minister Man Mohan Singh’s Vidarbha Relief package, had promised the farmers would get at least one year moratorium on recovery of loans.

However, it seems the Loan Recovery Operations picture on the ground is starkly different. Shri Goyal has already stated that “no government on earth can subsidize 60% of the farmers“.
All bank managers have loan recovery targets, and are busy forcefully recovering outstanding amounts from farmers using new techniques and methods.
It now seems the banks have decided to collude with state-run Cotton Marketing Cooperative Federation, the main cotton procurer in Vidarbha, during selling of raw cotton.
Moreover, banks have also launched their loan recovery drive knowing that the Vidarbha cotton farmers are drinking water from a leaking cup.
In the face of this double bind of seeing the daily dance of death in his districts, between helpless farmers and Congress politicians, the Relief Commissioner has donned the cap of a philosopher, and is busy advocating to the media, that the high cost of agro-inputs and meagre price of raw cotton produce, is to blaim for the misery of suicidal farmers.
How long this situation will last, and a new Relief Commissioner takes charge from him, remains to be seen.