Saturday, April 10, 2010

Introduce Islamic Banking to save the farmers of Vidharba, says M S Swaminathan

Monkombu Sambasivan Swaminathan (Tamil: மான்கொம்பு சாம்பசிவன் சுவாமிநாதன்) has come out with an brilliant idea to salvage the farmers of vidharba.
He has said that ISLAMIC banking could  be the solution to farmer suicide crisis in Vidarbha in a report in in The New Indian Express.

Speaking at Karuna Ratna award presentation function, he said the exorbitant lending rates charged by money lenders in Vidarbha had created a vicious cycle of debt and suicide in the region. 

“Even yesterday we heard news about 30 farmers who committed suicide in Vidarbha. Islamic banking, which propagates zero interest lending, could hold the key to solving this crisis”, he said.
 To read the full story click here.

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