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Rahul Gandhi urges RBI to extend moratorium on Kerala farm loans

Rahul Gandhi urges RBI to extend moratorium on Kerala farm loans

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  15 Aug 2019 6:24 AM GMT

Wayanad: Former Congress chief and Wayanad MP Rahul Gandhi, here on Wednesday, urged Reserve Bank of India (RBI) Governor Shaktikanta Das for extension of moratorium on repayment of crop loans in Kerala in the wake of flood. “I request the RBI to take measures to extend the moratorium on repayment (of crop loans) to December 2019. I would be grateful if I am informed of the action taken,” Gandhi, camping in his parliamentary constituency since Sunday, said in his letter to the RBI Governor.

The Congress leader said, the state-level bankers’ committee has refused to consider the demand of the state government and the opposition parties to extend the moratorium on repayment of loans to December 31, 2019. He said, in 2018 Kerala witnessed the worst flood in over a century, only to be followed by fresh floods this year, which destroyed crops as well as other productive assets of farmers. “Also, external factors, like the sharp fall in global commodity prices of cash crops, have adversely affected the farmer’s capabilities,” Gandhi said. The Congress leader also pointed to a spate of suicide by farmers in Kerala after banks intensified recovery proceedings against them under the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (SARFAESI Act). (IANS)

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