TFIPOST हिन्दी
TFIPOST Global
Tfipost.com
Tfipost.com
No Result
View All Result
  • Premium
  • Politics
    • All
    • Analysis
    • Opinions
    • Trending
    Kavach Enhances Rail Safety

    A New Era of Rail Safety in India : Kavach 4.0 Commissioned on Mathura-Kota Section of the Delhi-Mumbai route

    Seeking Inspiration from PM Modi, BJP's Young Voice Tejasvi Surya Steps Up as Gen- Next Torchbearer

    Seeking Inspiration from PM Modi, BJP’s Young Voice Tejasvi Surya Steps Up as Gen- Next Torchbearer

    Centre Proposes Six-Month Extension of President’s Rule in Manipur

    Centre Proposes Six-Month Extension of President’s Rule in Manipur

    'I PAC is actively attempting to disrupt the law and order situation in West Bengal': BJP

    ‘I-PAC is actively attempting to disrupt the law and order situation in West Bengal’: BJP

    • Analysis
    • Opinions
    • Trending
  • Economy
    • All
    • Business
    • Economy1
    • Finance
    IMF Raises Global Growth Forecast; India Set to Expand 6.4 pc in FY26

    IMF Raises Global Growth Forecast; India Set to Expand 6.4 pc in FY26

    India Bans 25 OTT Platforms

    India Bans 25 OTT Platforms Including ULLU, ALTT & Desiflix for Obscene Content

    Union Commerce Minister Piyush Goyal and UK Trade Secretary Jonathan Reynolds formally signed the Free Trade Agreement

    India, UK Sign Historic FTA; Modi Sends Stern Message on Terror, Corruption, and Democracy Abuse

    What Can the Hindustan Zinc Share Price Tell Us About Strategic Resource Investing in India

    What Can the Hindustan Zinc Share Price Tell Us About Strategic Resource Investing in India

    • Business
    • Finance
  • Defense
    • All
    • Defence
    • Strategy
    • Weaponry
    ndia’s ‘PRALAY’ Missile Can Strike Silently — Even From a Truck

    DRDO Tests 5,000 Kg Radar-Evading ‘Pralay’ Ballistic Missile Capable of Precision Strikes from Mobile Truck Launchers

    BJP to Hold Tiranga Yatra Across Nation from August 10-14 to Celebrate Operation Sindoor, Honour Forces

    BJP to Hold Tiranga Yatra Across Nation from August 10-14 to Celebrate Operation Sindoor, Honour Forces

    Guns to Chocolates—Shah Links Pahalgam Terror to Pakistan

    Guns, Pakistani Chocolates, Voter IDs: Amit Shah Nails Proof on Pahalgam Terrorists Killed In Operation Mahadev

    Pakistan Was Forced to Kneel Before India’s Might, Confirms Rajnath Singh

    Pakistan Couldn’t Handle India’s Retaliation, DGMO Pleaded for Truce: Rajnath Singh in Lok Sabha

    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • All
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
    Mobarak, a key Razakar in Brahmanbaria, was accused of aiding Pakistani forces in brutal 1971 war crimes.

    Bangladesh SC Acquits Razakar Mobarak Hossain in 1971 War Crimes Case Amid Hindu Persecution

    India Scores Diplomatic Win as UN Names TRF in Monitoring Report

    India Scores Diplomatic Win as UNSC Names TRF in Sanctions Monitoring Report

    MEA Refutes ‘Inaccurate’ Claims by Grand Mufti on Nimisha Priya’s Death Sentence Being Cancelled

    Grand Mufti’s Claims on Nimisha Priya’s Death Sentence Being Cancelled Are ‘Inaccurate’: MEA

    India Rejects Western Pressure: National Interest Over Global Optics

    Should We Switch Off Our Economy? Indian Envoy’s Sharp Response to Question on Russian Oil

    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • All
    • Culture
    • Education
    • History
    • Indology
    Chola Legacy, Modi’s Message: Restoring Dharma in Tamil Political Discourse

    Rajendra Chola to PM Modi: Reclaiming Tamil Nadu’s Forgotten Hindu Civilizational Heritage

    Schools in Delhi May Soon Bear Names of Local Kargil Martyrs, Says Minister on Vijay Diwas

    Schools in Delhi May Soon Bear Names of Local Kargil Martyrs, Says Minister on Vijay Diwas

    NCERT Textbook Reveals Mughal Religious Intolerance

    Ruthless Babur, Violent Akbar, Destructive Aurangzeb: NCERT Textbook Reveals Mughal Religious Intolerance

    India Built Gardens Long Before Babur Dreamt of Charbagh

    Before the Mughals: India’s Civilisation Built Gardens Long Before Babur Dreamt of Charbaghs

    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • All
    • Books
    • Cinema
    • Entertainment
    • Food
    • Games
    • Health
    • Lifestyle
    • Satire
    • Sports
    • technology
    • Travel
    A Taste of India: Discovering Five Iconic Alcoholic Beverages

    A Taste of India: Discovering Five Iconic Alcoholic Beverages

    Infuse Your Outdoors With Elegance with Gate Lights and Garden Lights

    Infuse Your Outdoors With Elegance with Gate Lights and Garden Lights

    How to Use Bilbet Mobile App for Smart Betting – Pro Tips for Indian Gamblers

    How to Use Bilbet Mobile App for Smart Betting – Pro Tips for Indian Gamblers

    Paw-lling Error: Golden Retriever named ‘Dog Babu’ Gets Voter-Ready in Bihar

    Paw-lling Error: Golden Retriever named ‘Dog Babu’ Gets Voter-Ready in Bihar

    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
Tfipost.com
  • Premium
  • Politics
    • All
    • Analysis
    • Opinions
    • Trending
    Kavach Enhances Rail Safety

    A New Era of Rail Safety in India : Kavach 4.0 Commissioned on Mathura-Kota Section of the Delhi-Mumbai route

    Seeking Inspiration from PM Modi, BJP's Young Voice Tejasvi Surya Steps Up as Gen- Next Torchbearer

    Seeking Inspiration from PM Modi, BJP’s Young Voice Tejasvi Surya Steps Up as Gen- Next Torchbearer

    Centre Proposes Six-Month Extension of President’s Rule in Manipur

    Centre Proposes Six-Month Extension of President’s Rule in Manipur

    'I PAC is actively attempting to disrupt the law and order situation in West Bengal': BJP

    ‘I-PAC is actively attempting to disrupt the law and order situation in West Bengal’: BJP

    • Analysis
    • Opinions
    • Trending
  • Economy
    • All
    • Business
    • Economy1
    • Finance
    IMF Raises Global Growth Forecast; India Set to Expand 6.4 pc in FY26

    IMF Raises Global Growth Forecast; India Set to Expand 6.4 pc in FY26

    India Bans 25 OTT Platforms

    India Bans 25 OTT Platforms Including ULLU, ALTT & Desiflix for Obscene Content

    Union Commerce Minister Piyush Goyal and UK Trade Secretary Jonathan Reynolds formally signed the Free Trade Agreement

    India, UK Sign Historic FTA; Modi Sends Stern Message on Terror, Corruption, and Democracy Abuse

    What Can the Hindustan Zinc Share Price Tell Us About Strategic Resource Investing in India

    What Can the Hindustan Zinc Share Price Tell Us About Strategic Resource Investing in India

    • Business
    • Finance
  • Defense
    • All
    • Defence
    • Strategy
    • Weaponry
    ndia’s ‘PRALAY’ Missile Can Strike Silently — Even From a Truck

    DRDO Tests 5,000 Kg Radar-Evading ‘Pralay’ Ballistic Missile Capable of Precision Strikes from Mobile Truck Launchers

    BJP to Hold Tiranga Yatra Across Nation from August 10-14 to Celebrate Operation Sindoor, Honour Forces

    BJP to Hold Tiranga Yatra Across Nation from August 10-14 to Celebrate Operation Sindoor, Honour Forces

    Guns to Chocolates—Shah Links Pahalgam Terror to Pakistan

    Guns, Pakistani Chocolates, Voter IDs: Amit Shah Nails Proof on Pahalgam Terrorists Killed In Operation Mahadev

    Pakistan Was Forced to Kneel Before India’s Might, Confirms Rajnath Singh

    Pakistan Couldn’t Handle India’s Retaliation, DGMO Pleaded for Truce: Rajnath Singh in Lok Sabha

    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • All
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
    Mobarak, a key Razakar in Brahmanbaria, was accused of aiding Pakistani forces in brutal 1971 war crimes.

    Bangladesh SC Acquits Razakar Mobarak Hossain in 1971 War Crimes Case Amid Hindu Persecution

    India Scores Diplomatic Win as UN Names TRF in Monitoring Report

    India Scores Diplomatic Win as UNSC Names TRF in Sanctions Monitoring Report

    MEA Refutes ‘Inaccurate’ Claims by Grand Mufti on Nimisha Priya’s Death Sentence Being Cancelled

    Grand Mufti’s Claims on Nimisha Priya’s Death Sentence Being Cancelled Are ‘Inaccurate’: MEA

    India Rejects Western Pressure: National Interest Over Global Optics

    Should We Switch Off Our Economy? Indian Envoy’s Sharp Response to Question on Russian Oil

    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • All
    • Culture
    • Education
    • History
    • Indology
    Chola Legacy, Modi’s Message: Restoring Dharma in Tamil Political Discourse

    Rajendra Chola to PM Modi: Reclaiming Tamil Nadu’s Forgotten Hindu Civilizational Heritage

    Schools in Delhi May Soon Bear Names of Local Kargil Martyrs, Says Minister on Vijay Diwas

    Schools in Delhi May Soon Bear Names of Local Kargil Martyrs, Says Minister on Vijay Diwas

    NCERT Textbook Reveals Mughal Religious Intolerance

    Ruthless Babur, Violent Akbar, Destructive Aurangzeb: NCERT Textbook Reveals Mughal Religious Intolerance

    India Built Gardens Long Before Babur Dreamt of Charbagh

    Before the Mughals: India’s Civilisation Built Gardens Long Before Babur Dreamt of Charbaghs

    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • All
    • Books
    • Cinema
    • Entertainment
    • Food
    • Games
    • Health
    • Lifestyle
    • Satire
    • Sports
    • technology
    • Travel
    A Taste of India: Discovering Five Iconic Alcoholic Beverages

    A Taste of India: Discovering Five Iconic Alcoholic Beverages

    Infuse Your Outdoors With Elegance with Gate Lights and Garden Lights

    Infuse Your Outdoors With Elegance with Gate Lights and Garden Lights

    How to Use Bilbet Mobile App for Smart Betting – Pro Tips for Indian Gamblers

    How to Use Bilbet Mobile App for Smart Betting – Pro Tips for Indian Gamblers

    Paw-lling Error: Golden Retriever named ‘Dog Babu’ Gets Voter-Ready in Bihar

    Paw-lling Error: Golden Retriever named ‘Dog Babu’ Gets Voter-Ready in Bihar

    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
No Result
View All Result
Tfipost.com
Tfipost.com
No Result
View All Result
  • Premium
  • Politics
  • Economy
  • Defense
  • Geopolitics
  • Knowledge
  • Law
  • Lounge

Some traditions are not good: UP Govt to abolish the ‘Sahukari System’ in Uttar Pradesh

TFI Desk by TFI Desk
25 December 2020
in Trending
Yogi, Uttar Pradesh, Sahukari System
Share on FacebookShare on X

In a very progressive step, the Yogi government is set to scrap The Uttar Pradesh Regulation of Money-Lending Act, 1976, under which the Sahukars, the unregistered and unregulated money-lenders who are very prominent in rural areas, functioned. The principal argument of the government is that almost every citizen of the state has a bank account, and therefore, they should utilize the institutional credit instead of going to moneylenders and helping continue the Sahukari System. 

According to Vidhan Jaiswal, ADM Finance and Revenue, there are various government schemes like Mudra loan, Kisan Credit Cards (KCC), etc, through which the people can easily get loans at subsidized rates. The interest rate for many schemes such as the Mudra loan is as low as 4 per cent- less than average inflation. Whereas, the Sahukars provide loan at interest rates which go as high as 17 per cent. Therefore, the government wants to ban the Sahukari system altogether and push people towards formal credit. 

RelatedPosts

Yogi Adityanath Makes History, Becomes Longest Serving UP CM

Yogi Govt to End 6-Decade Wait, Grant Land Titles to East Pakistan Hindu Refugees

UP Police Report Nearly 15,000 Encounters Since 2017: 238 Criminals Killed, Over 9,000 Injured

Load More

The methods and practices used in the Sahukari system to collect the lent money and interest are questionable and sometimes this drives the poor people in debt, to take extreme steps like suicide. Therefore, the Yogi government is looking forward to scrapping the Uttar Pradesh Regulation of Money-Lending Act of 1976 and making the Sahukari system illegal. 

The Uttar Pradesh government had asked the district administrators for a report on whether the Sahukari system needs to be continued at a time when people can open a bank account at zero balance, and they responded by saying that the Sahukari system is no longer needed, as it does more harm than good. 

So, in the coming months, giving money on interest by unregistered entities will be illegal. And, people will be incentivized to access loans from the banks instead of Sahukars. 

A few years ago, a majority of Indians did not have access to banking systems and more than half the rural population had no operational bank account. The financial inclusion programme of the Government of India was launched on August 15, 2014, and now has become a vehicle for many government schemes with 34 crore beneficiaries.

 Bank accounts are important for implementing low-cost insurance schemes under the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY) at a large scale. Today the Modi government transfers thousands of rupees directly to the bank account of more than 14 crore farmers simultaneously, thanks to the financial inclusion scheme. 

India has one of the lowest credit to GDP ratio (at around 56 per cent) in the world because people prefer relatives and Sahukars over bank credits. Compared to India’s 56 per cent, China has a credit to GDP ratio of around 134 per cent. The Modi government tried to improve people’s access to banks and institutional credit systems through financial inclusion but despite having a bank account, people see banks as the only safe havens to deposit their savings, not to take credit.

This is partly because the banking system in India was initially very complex and the public sector banks were too inefficient and too ‘out of touch’ to people. But, with the explosion of mobile banking and increasing rural penetration, it is important that the people see banks as a source of credit and not only as safe havens for savings, and the abolition of the Sahukari system is a positive step in that direction.  

Tags: Sahukari SystemUttar PradeshYogi Adityanath
Share66TweetSend
Previous Post

There’s nothing wrong about Virat Kohli availing his paternity leaves and he need not be trolled for it, but T. Natarajan deserves as much as Kohli does

Next Post

First Central Vista and now Louis Kahn Plaza in IIM-A: India’s nostalgia is sometimes really stupid

Related Posts

Kavach Enhances Rail Safety
Trending

A New Era of Rail Safety in India : Kavach 4.0 Commissioned on Mathura-Kota Section of the Delhi-Mumbai route

30 July 2025

Indian Railways has taken a major leap in railway safety by commissioning Kavach 4.0, an advanced indigenous train protection...

Buy Indian, Buy Informed: Govt Seeks Country of Origin Filter to Counter Imports from Terror-Linked Nations
Trending

Buy Indian, Buy Informed: Govt Seeks Country of Origin Filter to Counter Imports from Terror-Linked Nations

30 July 2025

In a move aimed at empowering Indian consumers to make better-informed purchasing decisions, particularly during the upcoming festive season,...

Why Doesn’t India Have Helpline to Report Illegal Bangladeshis?
Analysis

Why Don’t we Have Helpline to Report Illegal Bangladeshis? Why Is India Turning a Blind Eye?

30 July 2025

You see them everywhere, illegal Bangladeshis selling vegetables in city markets, posted as security guards, maintaining gardens in residential...

Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms of use and Privacy Policy.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Currently Playing

When Reuters Insults India, Its Indian Staff Looks the Other way

When Reuters Insults India, Its Indian Staff Looks the Other way

00:07:38

NISAR Explained: Why the World Is Watching ISRO and NASA’s Next Move

00:07:26

Inside the ₹30,000 Cr Tug of War Between Karisma Kapoor and Sunjay’s Family

00:04:08

Should the HR&CE Exist? The Controversial Control Over Hindu Temples in Tamil Nadu

00:06:31

Will India Buy F-35s from US or Build Su-57s with Russia? IAF’s Big Push Explained

00:08:32
Facebook Twitter Instagram Youtube
tfipostTfipost.com
Right Wing | News Analysis | Indian Opinion
  • About us
  • Careers
  • Brand Partnerships
  • Terms of use
  • Privacy Policy
  • Sitemap
MASHABLE IS A GLOBAL, MULTI-PLATFORM MEDIA AND ENTERTAINMENT COMPANY. FOR MORE QUERIES AND NEWS, CONTACT US AT info@mashablepartners.com


©2025 TFI Media Private Limited

No Result
View All Result
  • Premium
  • Politics
    • Analysis
    • Opinions
    • Trending
  • Economy
    • Business
    • Finance
  • Defense
    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
TFIPOST हिन्दी
TFIPOST Global

©2025 TFI Media Private Limited