Senior Bhartiya Janata Party (BJP) leader Subramanian Swamy on Saturday slammed the Reserve Bank of India (RBI) Governor Shaktikanta Das for trying to sabotage the renewal of Kisan Credit Card by insisting to the banks for the remittance of principal amount from farmers. Swamy urged Prime Minister Narendra Modi to sack the RBI Governor for sabotaging the packages in agriculture.
“I learn that while PSBs (Public Sector Banks) were ready to extend the validity of Kisan Credit Card done usually now, if the farmer pays the interest due (but not principal due to the COVID-19 crunch) the RBI Governor has issued a fatwa that principal must be paid. This is sabotage. PM must sack him,” tweeted Swamy, who has, in the past, accused the RBI Governor as a “crony” of the former Finance Minister P Chidambaram.
I learn that while PSBs were ready to extend the validity of Kisan Credit Card done usually now, if the farmer pays the interest due (but not principal due to the COVID-19 crunch) the RBI Governor has issued a fatwa that principal must be paid. This is sabotage. PM must sack him
— Subramanian Swamy (@Swamy39) May 16, 2020
Talking to media over the phone, Swamy said that many farmers’ union leaders complained to him that even after Agriculture Ministry and many Bankers favoured the immediate renewal of Kisan Credit Card, RBI Governor Shaktikanta Das was throwing a spanner into the works. Kisan Credit Card was an ambitious project launched by Prime Minister Narendra Modi a few years ago and widely welcomed by farmers due to the easy availability of funds. Nearly four crore farmers have benefited by this scheme. Kisan Credit Card is designed to be like a bank overdraft or a running account for farmers and not as a term loan.
Normally, a majority of the Kisan Cards are renewed during the period March to July. The Agriculture Ministry directed that due to the Corona crisis, the banks must renew the Card immediately by accepting the interest of the loans. But RBI put a spanner by directing that banks must also collect the principal amount of the loan during the renewal of the Kisan Credit Card.
This is not the first time that the RBI Governor Shaktikanta Das has invited the wrath of Subramanian Swamy. Das was a Tamil Nadu cadre IAS officer and is known to be close to former Finance Minister Chidambaram. During the NDA regime, as Revenue Secretary, Das played all tricks to collapse the Enforcement Directorate’s (ED) probe against Chidambaram in the Aircel-Maxis scam and even the Revenue Department lied in the Supreme Court to save his old boss Chidambaram in November 2014. PGurus did a series of reports on the dubious activities of RBI Governor Shaktikanta Das.
 Controversial tainted officer Shaktikanta Das appointed as RBI Governor – Dec 12, 2018, PGurus.com
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