State Bank of India Chairman Arundhati Bhattacharya criticized Andhra Pradesh and Telangana governments for farmer loan waiver plan.
Telugu Desam Party chief Chandra Babu Naidu and Telangana Rashtra Samithi chief K Chandrasekhar Rao have promised to waive off the loan taken by farmers, if their parties form government in their respective stated.
Now, both TDP and TRS have come into power in AP and Telangana. Government will spend thousands of crores to waive off the loan taken by farmers and this burden will fall upon the common people.
Mrs. Bhattacharya said that the loan waiver is rewarding bad borrowers and is penalizing the good borrowers.
People who have been good at returning the amount given by bank are getting no benefits and other are making good use of it. If these are the kind of signals, that are being sent to the people, they will be under bad influence and that will be a severe loss for the banks in the country.
She added that the politicians in the country are destroying the lending and returning culture in India.
Just to come into power, politicians are using the money of common people. How fair is this?
