Farm loan waiver for COVID-19 victims in Karnataka

Chief Minister B.S. Yediyurappa will make the announcement soon, says Co-operation Minister S.T. Somashekar

Co-operation Minister S.T. Somashekar on July 14 said the government would soon announce a waiver of ₹79.47 crore in farm loans borrowed by 10,187 farmers in Karnataka who succumbed to COVID-19.

Loans borrowed from apex, district credit cooperative banks and primary agricultural cooperative societies (PACS) would be waived. Chief Minister B.S. Yediyurappa would formally announce the decision in 3-4 days, Mr. Somashekar said.

In 2020-21, the Minister said, 25.67 lakh farmers borrowed loans amounting to ₹17,108 crore. Of the 25.67 lakh farmers, the Minister said 10,187 farmers, who borrowed loans from cooperative banks, succumbed to the pandemic. The loan waiver would reduce financial burden on families who had lost their earning members owing to COVID-19, the Minister said.

Source: Read Full Article