"Debt waivers create a moral hazard from a credit repayment perspective and we cannot have omnibus waivers," chairman Harsh Kumar Bhanwala said, a week after the UP government announced a Rs 36,000-crore farm loan waiver package.
Weather forecasters are not convinced and have warned of severe dryness in the autumn months.
The agency has also downplayed the El-Nino factor, saying the chances of the phenomenon affecting rainfall were remote.
A record production of pulses, oilseeds and coarse cereals is expected on higher acreage under these crops.
According to IMD, the revival of monsoon rains in the grain bowl of northwest and central regions should help speed up the sowing of main summer crops.
The agriculture sector posted two straight quarters of negative growth of 1.1 per cent each to March.
Allaying fears of food prices going up due to deficient rains he said that there are adequate stocks available.
- Citizenship Amendment Bill passed in Lok Sabha with 311 votes in favour
- State-run banks post aggregate profit of Rs 3,221 crore; turn profitable in first half of FY20
- Delhi High Court declines to order linking Aadhaar, PAN, voter ID with social media accounts
- Bharat Bond ETF to open this week: check date, investment, return, other details
- Hero MotoCorp to hike motorcycle, scooter prices from January 1
- Vivo V17 launched in India; check out price, specifications, features
- Vivo V17 India launch: Check out prices, features, other details
- Security threat! Over 44 million accounts reused passwords in Q1 of 2019, says Microsoft
- Apple iPhones may ditch charging port for 'completely wireless experience'
- WhatsApp releases new update for voice calls; check out details