Insurance for farmers: Getting loans to farmers insured by banks.

Getting loans to farmers insured by banks.

Till date, political parties in India made financially sensitive promises of waiving the farmers' loans once they form the government.

I believe for making a permanent impact on the agricultural sector, we must delegate the responsibility of waiving loans to banks by making banks insure every loan they provide to farmers with RBI. Just like when RBI issues new currency notes for an exchange of a spoiled currency note, we can assume the loan amount given to farmers who lost the crop has burnt the money and so the RBI can reprint that amount of currency and pay the loan amount back to the bank. This way poor Annadata will not suffer losses and avoid committing suicide. Let us save our farmers. Please accept my sincere apologies, if this idea is not useful.

GOD bless All.