Banks should take more responsibility while lending poor farmers: Prime Minister

Narendra Modi

Honorable Prime Minster of India Narendra Modi has asked the banks to lend money to poor farmers who are dying and wanted the banks to reduce their strict recovering procedure to ease the farmers. By doing so the farmer suicides can be reduced, he concerned. 

Addressing the gathering during the 80th anniversary of Reserve Bank of India(RBI) celebrations at Mumbai, Modi felt banks should act in a more considerate way.

“The plight of farmers should shake the conscience of the entire banking sector. Our farmers across the country are committing suicide. As RBI celebrates 80 years, can we think within ourselves that we will expand our banking sector so much that farmers would not have to commit suicide because of huge debt burden towards moneylenders. Can we not dream of this? I do not believe that by helping poor, a bank will become insolvent,” he said in the meeting.

While speaking about the financial growth, he mentioned that over 5 crore people engaged in small business needs an average loan of Rs.17,000 to improve their income.

The Prime Minister also urged the banks to lend money to the poor so that they can enhance their life with less difficulty. He remembered his old days to mention how it feels to be a poor.

He also asked RBI to only use Indian made inks and papers to print the currencies.

"Mahatma Gandhi, who fought so much for the country, how can his picture be printed on foreign paper,” he questioned.

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