Tag Archives: SARFAESI Act

Support prices sought to bail out farmers

Nagendra also complained that the BJP, which promised of implementing the recommendations of the National Commission on Farmers, has failed to fulfill its promise even after two years of coming to power. The commission was headed by noted agriculture scientist M S Swaminathan, “The Centre is acting as an agent of corporate companies and fails to think in terms of benefiting the farmers,” he criticised.

Nagendra objected to the move by the government to invoke the provisions of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act to recover loan lent to farmers.

Source: Support prices sought to bail out farmers

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Objection to Centre’s move to invoke SARFAESI Act to recover farm loans – The Hindu

Speaking to presspersons here on Monday, Mr. Malipatil, while recalling an incident in Bengaluru (Rural) district where the Act was invoked to recover loans given by a nationalised bank for floriculture and notices issued to a couple of farmers in Tumakuru and Kodagu, questioned the propriety of the Union government to invoke the provisions of SARFAESI Act for recovering farm loans at a time when the farm sector was in a deep crisis and farmers were battling to make both ends meet owing to several reasons, including vagaries of monsoon and natural calamities.

Source: Objection to Centre’s move to invoke SARFAESI Act to recover farm loans – The Hindu