Daijiworld Media Network - Bengaluru (MS)

Bengaluru, Aug 15: The government has ordered to waive Rs one lac per family of farmers who have taken a short-term loan from the co-operative banks. However, the order sent by the cooperative department says that this waiver will only be done provided the farmers pay the outstanding amount and the sustainable interest before March 31, 2019.

Chief minister Kumaraswamy had said that the condition of loan waiver for only one person per family of the farmer will be taken back as there was massive opposition for the rule. However, now in the latest order, only Rs one lac per family of the farmer will be waived. In addition, certain conditions are also put for this waiver. Only the outstanding amount as of July 10, 2018, of the short-term loan distributed by Primary Agriculture cooperative organizations, LAMPS, DCC bank and Picart banks.

If the concerned farmer has committed suicide, then the heir of such a person is also eligible to get this benefit. If any farmer has already paid the loan back to the bank completely before July 10, 2018, then the waiver amount of Rs one lac will be credited to their savings bank account.