Karnataka govt to waive off loans of farmers who succumbed to Covid


Daijiworld Media Network – Bengaluru (MS)

Bengaluru, Jul 8: State government is mulling to waive loans within Rs 1 lac of farmers who have died of coronavirus pandemic. The final decision will be published in another two days.

Already instructions have been given to all cooperative organizations to submit the details of the farmers who have died of Covid. The waiver will be done through DCC Bank and Apex Bank and the DCC Bank will get financial aid from Apex Bank.

Minister of State for co-operation, ST Somashekhar confirmed this fact and said that the government has the responsibility of helping the farmers who have died due to coronavirus.

Federation of Karnataka cooperatives has welcomed the decision of the state government. G T Devegowda, president of the federation said that the government's initiative of helping the families of farmers who have died of coronavirus is really appreciable. This will help the family of the farmers. The support of the whole cooperative sector is with the government. 

 

 

 

 

  

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Comment on this article

  • Deshbhakt, Mangalore

    Thu, Jul 08 2021

    This is an eye wash. Every loan is insured, hence if the person who owes died, his sum is recovered from insurance. Why should the government show the loan as it's responsibility ?? Even if it requires to be paid back, why not from the PM Cares Fund ?? Please don't create new ways to tax us citizens.

    DisAgree Agree [3] Reply Report Abuse

  • Sam, Mumbai

    Thu, Jul 08 2021

    @Deskbhakth Thats how literate you are, who told you that every loan is insured, insurance is a choice and has additional deductions for the person taking loan so not many take it.

    DisAgree [3] Agree [2] Reply Report Abuse

  • Deshbhakt, Mangalore

    Fri, Jul 09 2021

    Sam, don't be under an illusion that banks will spare you with that little additional fee (1% of the sum) because no matter how much enticement it involved, a lender never trusts a debt seeker. They will slyly apply insurance and over that get a kin repay the sum in much larger sum than sought, by hiding all information. In Mangalore it was about to be made to pay thrice the amount than the loan, until an activist got involved (thank you Shanubaug Sir) and then the entire sum got waived/paid off and was covered by Insurance. Nevertheless, I don't see any reason for not bringing the repayment through PM Cares Fund if the government thinks that the connection is with Covid.

    DisAgree Agree [2] Reply Report Abuse

  • Jossey Saldanha, Nallasopara

    Thu, Jul 08 2021

    First good job from Shobha Krandjale ...

    DisAgree [3] Agree [1] Reply Report Abuse

  • Charles D'Mello, Pangala

    Thu, Jul 08 2021

    Otherwise who will pay back 1 Lakh loan given on personal security....!!!!!?????

    DisAgree [1] Agree [4] Reply Report Abuse

  • OSWALD VAZ, THOTTAM / BAHRAIN

    Thu, Jul 08 2021

    What is this big deal ?. After death as per Law no one can claim anything from the deceased until & unless something is given as security.

    DisAgree Agree [6] Reply Report Abuse


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