THIRUVANANTHAPURAM: Reacting to the State Level Bankers Committee advertisement that appeared in dailies on Sunday, stating that recovery procedures on agricultural loan defaulters will proceed unhindered, Finance Minister Thomas Isaac said the attitude of the committee is of double standards.
The advertisement was in the wake of suicide of two people in a family. Agriculture Minister V S Sunil Kumar also supported the stand taken by the Finance Minister. Isaac said the decision taken by the bankers was unfortunate.
He said while rich businessmen have escaped after swindling lakhs of crores of rupees from banks, the hardened stand taken by the bankers against poor farmers cannot be accepted.
Sunil Kumar said the banks will not be at a loss on the decision taken by the state cabinet regarding the moratorium. The minister said he would meet the Reserve Bank Governor this month itself and added, if this issue needs to be handled legally, the govt was willing to do that.
In the advertisement, SLBC had mentioned that if the banks start the attachment process, then the moratorium would cease to exist.