Waivers as the ‘default’ setting
The waiver funds are often treated as windfall gains by farmers - Balachandar L×
Loan waivers and elections appear to have become inseparable. A dangerous trend has been set
The Tamil Nadu government has once again set the cat among the pigeons by announcing a loan waiver. The latest waiver scheme covers short-term crop loans availed from co-operative institutions. Tamil Nadu Chief Minister Edappadi K Palaniswami, who announced the scheme on February 5, was quick to action it as well, personally doling out the first few waiver certificates to beneficiary farmers last Saturday.
According to the scheme, the waivers, aggregating to ₹12,110.74 crore, which have been availed from cooperative institutions by more than 16.4 lakh farmers, will be waived off in toto – both interest and principal, with no attempt to be made to monetise any collateral provided. Further, the waiver will not discriminate between running loans in good credit order
Biden admin announces USDA foreclosure moratorium
Staff report
WASHINGTON D.C. The U.S. Department of Agriculture announced an extension of eviction and foreclosure moratoriums on USDA Single Family Housing Direct and Guaranteed loans through June 30, 2021. The actions announced will bring relief to residents in rural America who have housing loans through USDA.
“USDA recognizes that the COVID-19 pandemic has triggered an almost unprecedented housing affordability crisis in the United States. That’s why USDA is taking this important action today to extend relief to the hundreds-of-thousands of individuals and families holding USDA Single Family Housing loans,” USDA Deputy Under Secretary for Rural Development Justin Maxson said. “While today’s actions are an important step for them, we need to do more. The Biden Administration is working closely with Congress to pass the American Rescue Plan to take more robust and aggressive actions to bring additional relief to Ameri
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