Uttar Pradesh Farm Loan Waiver: Rs 27,420 Crore Hit Seen On Banks, Says SBI Research

Mumbai: If the Uttar Pradesh government fulfils its farmer loan waiver promise, banks are likely to take a hit of Rs 27,420 crore and the scheme will lead to some stress on the state's fiscal arithmetic, according to a report by SBI Research. The Bharatiya Janata Party had in its UP election manifesto promised to waive farmers' loans if elected to power. The party and its allies won a whopping 325 seats in the 403-member house. An ...