Privilege motion moved against SBI chairman

Xavier Trudeau
Mars 19, 2017

Mumbai: The Maharashtra Opposition parties on Thursday protested against State Bank of India Chairperson Arundhati Bhattacharya's comments on farm-loan waiver and warned her of a breach of privilege motion in the legislature unless she tendered an apology.

"When the Prime Minister Narendra Modi made a promise of loan waiver to Uttar Pradesh farmers, Bhattacharya kept mum, but she selectively remembers credit discipline when loan waiver for Maharashtra farmers is discussed", Vikhe-Patil said.

In a tweet, the State Bank of India said, One Time Settlement (OTS) is announced for Agriculture Loans and the Scheme is valid until 31 March 2017.

Emphasising the need for a stronger focus on the farm sector in order to sustain overall growth, she said banks were facing challenges in terms of growth capital and asset quality. According to Vikhe-Patil, "Bhattacharya, by commenting on the crop loan waiver, has shown disrespect to the sentiments of the elected legislators who are raising the cause of the farmers". Bhattacharya said that this would disturb the credit discipline among the borrowers, they would keep expecting more such waivers in future and even those (future) loans would remain unpaid.

However, political commentators believe Bhattacharya has not violated or undermined any individual or authority with her comment. Money will come in today because government will pay but when we give the loan in future, farmers will wait for the next polls.

Several ruling and opposition leaders argued, "SBI chairperson is not a policymaker to make such a comment".

"He alleged that the SBI chiefs remarks were "violation of the rights of the legislature which make laws".

The state Assembly witnessed four adjournments amid uproar, before it was adjourned for the day.

Other reports by CampDesrEcrues

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