Thursday, June 08, 2006


I am always of the opinion that we will never be a developed nation if we continue to ignore the poor and the farmer. Let alone in 2020 not even in 2050. A couple of months back on apr 10th, Sharad pawar (the union agriculture minister) was in hyderabad. The meeting that day was hyped up as it laid down a grand plan to alleviate the Farmer's suffering. The 35 districts where the farmer suicides were high were considered for a comprehensive package based on a six point formula. This package was to come into effect within 2 months. But there has been no talk of it off late. 2 months have passed and any slight hopes of getting this implemented during this Kharif season have vanished.

There is this hope of a good monsoon this year resulting in a good yield in KHARIF. But the callous nature of the govt has put an end to any kind of hope. The comprehensive package would have given the farmer that much more confidence and strength during tough times. The comprehensive package includes crop insurance,weather insurance,livestock insurance etc.
The farmer still finds it difficult to get a loan(forget the 7% interest). He has to go back to the money lender as he is denied loan by banks. Despite ostensibly strict instructions from the govt , Banks continue to deny new loans. The argument put forward is the credit history. Farmers never pay back the loans. From where will he pay back? He doesn't even have enough to eat twice a day. This brings me to the issue of loans. When there was this argument of farmers having a bad credit history, i was very curious to know the credit history of corporate business houses.

I filed an RTI petition with the Reserve bank of india (RBI) asking them the amount of debts related to corporate business houses (the seemingly sincere ones)written off by banks for 3 consecutive years.(2002-03,2003-04,2004-05). I was denied information initially saying that they dont maintain those records bankwise and corporate business wise etc. I had a heated argument with the PIO(public Information officer). He then asked me to file a fresh petition if i wanted a summary bank wise. This was totally unjustified. He did not furnish the information requested in the first place and then he asks me to file a fresh petition. I then appealed to the deputy Governor (Rakesh Mohan) of RBI who also is the appelate authority. There also the arguments continued and finally common sense prevailed. (which I consider a big victory)The PIO was directed by the deputy governor to provide the information i requested for. After almost 2 and a half months, i received the information today. You will be surprised to know the credit history of the so called honest and sincere corporates.

In 2002-03, Banks (nationalised,private etc) wrote off 11,619.70 crore rupees of loans of corporate business houses.
In 2003-04, Banks (nationalised,private etc) wrote off 13,489.56 crore rupees of loans of corporate business houses.
In 2004-05, Banks (nationalised,private etc) wrote off 10,876.74 crore rupees of loans of corporate business houses.

Just have a look at the figures and decide for yourself. when it comes to the rich and powerful, every rule is flouted and you are not even bothered to write off loans worth thousands of crores.
All the proposals, packages meant for the rich and powerful get approved overnight. Banks stand in queues to offer loans at throw away interest rates. Bureaucrats work overnight to complete their work. You could have implemented so many developmental schemes with the money written off.

But when it comes to the poor and the farmer, the banks turn them away. Forget the 7 % interest rate, you dont even get a loan.

It is still the rich and powerful that rule this country and twist every rule in the book to their advantage. The poor and the farmer are ignored. Goverments can happily continue to do so at their own peril.
The day is not far away when there will be a revolution. The poor will raise their voice. All you rich and powerful, will be toppled from your castles.

Till such time THE FIGHT CONTINUES and I will be on the side of the poor as a part of their army……………………………….


Rishabh Kaushal said...

Namaskar Rakesh Ji,

Excellent Work Done, if you remember I was quite desperate to know about this information.

Results are truly shocking and highly worrisome ....

Do you also have a list of corporate houses who were beneficiaries?

Also please put some light into reasons behind banks doing such thigns? (political pressure or individual corruption, etc.)

Best Wishes and Regards

-gautham- said...

am proud of u ra! keep it up!

Ryam said...

The poor needs people like u. Keep the good work going. All the best for the future. Even I am a prt of ur army in support of the poor.

Myndfcukd said...

you made it sound like all the rich are evil and the poor are righteous. Revolutions similiar to the one you have talked about have been talked about for centuries, and it has a name - communism.and friend, communism doesnt always work.

just to have a sane comparison, you should also have got the details of loans written off to non-corporate loanees.

Rakesh said...

mr. myndfcukd.....

i am neither a supporter of communism nor capitalism.. I am a supporter of humanity and the under previliged.. do banks ever cry foul play when it comes to loans of corporate houses? but when it comes to farmers..they suddenly remember the credit is not ideal my fight is only for justice...for the right things and aganist evil...

Rakesh said...
This comment has been removed by a blog administrator.
Chetan said...

hats off Rakesh.
Jai Hind.

Myndfcukd said...


friend, fight for justcie. fight against all evil. but do not make poverty sound like a virtue. do not make it sound like all poor are just and all rich evil.

Satish K Srivastava said...

some people just sit back and criticize whatever you do.... just ignore them.

They do not know what they are saying.

Let the people who criticize come up with their own action plan and implement them... who is preventing them anyways...

div said...

finally read it!

love u..

c u this evening..

u can singlehandedly change the world rakilu..
n thts ur greatest gift!

Anonymous said...

Everyone who supports this comment ...pls refrain. You are creating one more division between the rich and poor. I support mindfkcud "friend, fight for justcie. fight against all evil. but do not make poverty sound like a virtue. do not make it sound like all poor are just and all rich evil"

Mindfckud, all that Rakesh can give is a heated answer, he loses his cool if you point out anything, Rakesh, as a wellw isher, think collly, don't make hot comments... you have a social responsibility, don't be impatient. We understand your emotions and we feel the same, but don't talk as if all the rich are bad and all the poor are good. Evil is common, Evil doesn't differentiate status, it is character. Of course, I find it stupid that banks write off so much amounts, but many people want a free ride...does it mean a poor man doesnt try to get his loan written off or default?

Buddy be more expansive in your thinking.

And to you Ms.Div, Love him, but guide him properly.... no one can single handedly change, it will always be a collective effort, if uou people encourage his revolutionary and thoughts of communism, nothing will be the outcome.

Rakesh, if you can't take anonymous or any comments, pls disable them, but don't get stressed out.

We are your friends, we think the same way as you, but at the same time, think more maturedly, do I understand that you are one of the poor ?? Are you a rich guy? If you are rich, you are bad?? What if a guy who earns only 1000 rupees a month considers you rich? do u become bad for him??

Anonymous said...

Finally, you got this information. So much effort, so much resource, now what?? Are you going to file a case? Are you going to use this knowledge? Knowledge is not strength unless apllied.

Anonymous said...

Rakesh, Read Atlas Shrugged by Ayn Rand. Improve your knowledge and understanding, then talk.Don't shoot your mouth. Don't talk nonsense like all rich are bad and poor are good. By saying that you are only exhibiting your lack of understanding of life and the heights of your foolishness.

Anonymous said...

Dear Satish K Srivastava,

Whatever anyone says, don't dismiss it as "someppl just sit back and criticise." What Rakesh said is absolutely wrong, and foolish and brash. Don't dismiss anything anyone says as criticism. Myndfckd was right, absolutely right, and he was pretty clear. What do you find as criticism or wrong in what he said.

Gosh, you ppl are turning out to be a bunch of immature and rash youngsters....I'm off this blog forever. I want to do something for my country, but not through hypocrites and prejudiced people like you. I am rich, so am I bad?

Anonymous said...

heyy this seems more like naxalism....

Rakesh said...

Dear Anonymous,

If you misunderstood all that i wrote, then i cant help it. I was only pointing out the gross injustice. I never said all rich are bad. In that sense, by virtue of whatver i have, i too fall into the rich category. I am not talking non sense.

Just come with me and i will show you the reality. Banks stand in a Queue to give you loans at 4% interest to but a merc, but turn away a poor farmer. I am not saying the first thing is wrong, but its our responsibility to make sure there is an equitable society (not an equal society).

I will ofcuurse read. Every day, you learn new things. I never said i know everything.

I am neither a communist nor a capitalist. You chose to judge me on what you saw on my blog. Then you should have branded me a fundamentalist as well. But do right and left wings go hand in hand?

You can choose to call me whatever, i know what i am doing. Poeple will judge before they approve/disapprove of whatever i am doing. After all, everyone has a mind of his/her own.

No one can do things single handedly, its a collective effort.

And regarding what i am doing collecting information on RTI, did you ever know that such huge amounts were written off? U now know that smething's wrong smewhere.

There is a revolution that RTI is creating in some pockets. I have conducted an RTI session in rural mahbubnager. No one in that village now gives bribe to get their work done. They simply write an RTI petition. Things have started happening.

Thank you for all the time you spent in going through my blog and my work. Your comments are appreciated and i will take all the right things. But i would like to see you to shed some cynicism and work towards the colelctive action you were talking about...

Anonymous said...

yes, probably I might not have seen the good part of your efforts, rather I might have overlooked some based on your comments on some other issues. In any case, I wish you good luck, You are doing soem good atleast. But doesn't seem good when I sawyour rich and poor through them were in a revolt.

Harinath Mallepally said...

Rakesh, if possible can you host details of offices where we can file RTI (with possible causes) and the process (some people take cash, some places chalan etc) isnt it?

I think it will be worth to accumulate this information

Sravanthi always Wins said...

Rakesh ji,
today i got a chance to see your blog. Its a great effort. Why dont you use people who amkes ocmments here, to also come alng with you in fighting for the RTI cases you filed? You had got a good people support here yaar.

and from my side i am ready to work with you. I working as software engineer at hyderabad. Dont hesitate to conatct me at any time for the good causes like this taht help society.

One more thing i want to add is as you are getting much information through your RTI cases why dont you publish them in News papers so that people know the truths. Make a poll in news channels in televisions.

We are all in support for your works.

And i request poeple who comment here that to concentrate on subject of topic and dont go beyond about what are other sattements have been made towards good or bad or evil or rich or poor. subject is not that. subject is to writeoff loans agains Farmers also.

Sorry fr any spelling or statement mistakes to those who discuss on spelings and statements other tahn subject.

I respect all people her participating bcoz atleast you people are spneding your valuable time to read such topics and post your comments.

thank you

All the best