.........Waiving of the crop loans was expected to cost Rs 15,000 crore to the State exchequer. RBI Executive Director Deepali Pant Joshi has written to the Government saying the policies like waiving of loans will weaken the banking system in the country and it will be an injustice to the people who repay the loans on time. RBI official said that it would allow waiver of loan only if the State Government makes the payment in cash and it will not accept any securities from the State Government. The letter warned that the frequent waiver of loans will hurt..........
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