RBI internal group suggests measures to mitigate farm indebtness

Mumbai, Apr 25 (UNI) An internal group of the Reserve Bank of India (RBI), that went into the Radhakrishna Committee recommendations on agricultural indebtedness, today recommended reforms in financial and institutional architecture to tackle rural credit issues.

The Group, headed by Executive Director V S Das, had, in its report, made wide-ranging recommendations including immediate credit related measures and risk mitigation measures.

In the Mid-term Review of the Annual Policy 2007-08, it was proposed to constitute an internal working group within the RBI to examine the recommendations of the Radhakrishna Committee that were relevant to the banking system in general and to the central bank, in particular.

The Expert Group, set up by the Government of India under the chairmanship of Prof R Radhakrishna to look into the problems of agricultural indebtedness in its totality and suggest measures to provide relief to farmers across the country, submitted its report to Union Government in July last year.

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