The Reserve Bank of India today released on its website, the report of its internal working group set up to examine recommendations of the Expert Group set up by the Government of India under the chairmanship of Prof. R. Radhakrishna. The Government of India, Ministry of Finance had, in August 2006, constituted an expert group under the chairmanship of Prof. R. Radhakrishna, Director, Indira Gandhi Institute of Development Research to look into the problems of agricultural indebtedness in its totality and suggest measures to provide relief to farmers across the country. The Expert Group submitted its report to Government of India in July 2007.

The Group had, in its report, made wide-ranging recommendations to address the issue of agricultural indebtedness. The recommendations included immediate credit–related measures, reforms in financial and institutional architecture, risk mitigation measures, etc. In the Mid-term Review of the Annual Policy 2007-08, it was proposed to constitute an internal working group within the Reserve Bank to examine the recommendations of the Radhakrishna Committee that were relevant to the banking system in general and to the Reserve Bank, in particular. The internal working group was set up under the chairmanship of Shri V.S.Das, Executive Director of the Reserve Bank. The internal working group submitted its report in April 2008.

Alpana Killawala
Chief General Manager