Maha Oppn demands SBI chief's apology for statement on farm loan waivers

Had no business, they contend, to say farm loan waivers upset credit discipline

Opposition Congress and Nationalist Congress Party legislators on Thursday stormed the State Bank of India's corporate office at the Nariman Point demanding an apology from SBI chairperson Arundhati Bhattacharya for her statement that crop loan waiver disrupts credit discipline among borrowers as they expect future loans to be waived as well. Agitated Congress and NCP legislators led by the leader of opposition in the state assembly Radhakrishna Vikhe-Patil shouted slogans for over half-an-hour and threatened to table privilege motion in the state legislature. Opposition members left the SBI office after learning that Bhattacharya is out of Mumbai.

Opposition's move comes at a time when they are stepping up their demand for crop loan waiver in and outside the state legislature during the ongoing budget session. The ruling BJP has been isolated as its partner Shiv Sena also joined the Opposition on this issue.

Opposition members took strong objection against SBI chairperson's view expressed at the sidelines of CII conference here yesterday.

Vikhe-Patil countered Ms Bhattacharya saying that she is not a policymaker but a public servant and therefore should not go beyond her mandate. ''SBI chairperson has insulted the farmers who are in distress and should immediately tender an apology to them. Besides, she has breached the rights and privileges of the state legislature who has the right to provide crop loan waiver,'' he said and warned that the opposition will move a privilege motion against Ms Bhattacharya if she does not tender an apology.

Further, Vikhe-Patil claimed that banks have taken a decision to write off loans of Rs 1.40 lakh crore provided to industrialists and businessmen, including Vijay Mallya, who is currently in the United Kingdom. ''Ms Bhattacharya did not utter a word when the loans were written off. Besides, she kept quite after the Prime Minister Narendra Modi during the recently concluded Uttar Pradesh assembly election announced crop loan waiver to the farmers from that state. On both these occasions Ms Bhattacharya did not raise the issue of credit discipline,'' he noted.