Daijiworld Media Network - Bengaluru (MS)
Bengaluru, Jun 15: There is a possibility that most of the loans taken in commercial and cooperative banks by the farmers of the state for crop cultivation will be waived by the end of July this year.
Speaking to the scribes after holding a meeting with the representatives of commercial banks, chief secretary of the government, T M Vijaybhaskar said, "More than 90% of loans, taken by farmers, from commercial banks, that are eligible to be waived, will be waived by the end of June and those in the cooperative bank will be waived by the end of July this year. The banks will bear 25% of the NPA loans."
It seems, finally, the government has cleared all the obstacles in waiving the loans of farmers of the state.
As the banks are bearing 25% of the loans, they will be waiving Rs 965 crore of nearly one lac farmers. Government will bear the rest 75%.