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CM writes to PM for farm loan waiver

  • CM Siddaramaiah has urged PM Modi to waive farm loans taken by the farmers in nationalised banks.
  • Centre’s waiver will benefit 80 per cent of the farmers in the State.
  • The Rs 50,000 loan waiver announced by the State will benefit 20 per cent of the farmers.
  • Total amount of Rs 42,007.47 crores farm loans are taken from nationalised banks.
CM Siddaramaiah writes to PM Modi for farm loan waiver Karnataka
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The Karnataka Chief Minister Siddaramaiah has written to the Prime Minister Narendra Modi urging him to waive farm loans taken by the State farmers from nationalised commercial and private banks.  The State Government has already waived farm loans taken by the farmers from the Co-operative banks that come within the purview of the State Government, reported Kannada Prabha.

By writing to PM requesting for loan waiver the ball has been thrown into Centre’s yard.  The Chief Minister has explained in detail that the State has announced a farm loan waiver of Rs 50,000, amounting to Rs 8165 crores. However, the loans taken from the nationalised commercial banks, private and Grameen banks are a big burden on the farmers.  Hence we appeal to the Centre to waive loans, he has said.

Of the total loans taken by the farmers 20 per cent is from the co-operative banks, 80 per cent is from nationalised commercial banks and Grameen Banks.  By last March 31, 51 lakh farmers took farm loan to the tune of Rs 52,744.28 crore. Of them 28.73 lakh farmers owe Rs 42,007.47 crore from nationalised commercial banks and Grameen banks.  Around 22.27 lakh farmers have taken Rs 10,736.81 crore from co-operative banks. Now, by waiving the farm loans from nationalised commercial banks 80 per cent of the farmers will benefit.  The Chief Minister urged the Central Government to take immediate action in this regard, reported Kannada Prabha.

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