Bankruptcy ‘could be a blessing in disguise’ for Indian farmers

A banker from Maharashtra, who is among those suing over his home state’s insolvency laws, has said he believes the state’s laws are a blessing because of their “generosity” and “flexibility”.

India has a long history of bankruptcy, but the government has struggled to tackle the issue, even though many businesses have closed or stopped doing business in recent years.

The Reserve Bank of India (RBI) has said that as many as 90% of Indian banks are now insolvent, and that nearly 80% of banks are still in receivership, according to data compiled by The Hindu.

But the bankruptcies in Maharashtra are the exception rather than the rule.

In 2014, a government court ordered the closure of 10 banks in the state and ordered them to liquidate, but many others have not followed suit. 

In Maharashtra, banks were once seen as a source of stability for the state, but they are now seen as an obstacle to economic growth, said Ajay Shrestha, professor at the Jindal School of Management at the University of the West Indies (UNI).

“The banks are an obstacle because the banks are doing business.

There is no reason why a bank should have to be run on its own, or the whole state should have a bank,” Shresthala said.

The state is currently facing severe drought, as is the case in other parts of India, which also accounts for the collapse of many banks in recent months.

“The situation is very difficult, and there are many issues, but it is very encouraging that people are taking action against the banks,” Shrepo said.

In January, Shresthak told The Indian Express that the state has become a “polarised state”, with the state government’s response to the drought causing concern in other states.

In an article published on the Mumbai Mirror website, Shreposo said that he was a member of a local activist group called the “Sansan-i-Majal”, who was campaigning against the bank closures and other issues.

Shreposa told The Hindu that he did not expect the state to be as “crowded” as other states in India, but added that the banks were “a source of distress”.

“The lack of clarity in Maharashtra’s banking laws is a blessing for farmers,” Shreto said. 

“The people who are suffering the most are the people who do not have access to bank accounts.

There are many people who don’t have any bank accounts.”

Shrepo’s article, published on December 29, was shared more than 1,000 times on Facebook.

On Twitter, some of the people supporting Shreeps work also questioned his motives. 

Some of the other writers also shared the article on social media, such as Shreppas own Facebook page. 

Shreeps father, Shremesh Kumar, told The Hindustan Times that he has been fighting for his son’s right to access the bank account for months, and his family had no access to the money.

He said that the situation has worsened in recent days. 

He said the bank accounts were only used to meet monthly payments and was not available for transactions.

“When we went to the bank, they refused to help us.

They told us that the bank was insolvent and that we should deposit Rs.10 lakh in our accounts.

They said that we would not be able to use our bank accounts for other transactions,” Kumar said.

“The bank is doing everything to shut us down.

If we continue to go to the banks, the government will be forced to step in and shut them down.” 

Kumar said the state was in dire need of bank restructuring, but that he had no faith in the government.

“If the government is able to do anything, then it is a miracle, but there is no faith that they can solve this problem,” he said.

Mumbai Mirror journalist Pradeep Sharma said he believed that the drought in Maharashtra had contributed to the financial distress of the state. 

However, Sharma said that banks and other institutions were more important to Maharashtra than farmers.

“I think that the farmer has to have a voice in the process.

The banks are the main source of financial stability for farmers, so farmers should be the ones to have their say in the governance,” he told The Times.

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