CM Kumaraswamy waives more loans, benefits 22.23 lakh farmers

Bengaluru: Bowing under strain put on him by different parties and leader, Karnataka chief minister, H D Kumaraswamy, reported that present agricultural loans availed from cooperative societies in the state, which add up to Rs 10,700 crore, would likewise be waived off notwithstanding the waiver officially declared by him before. 

The Chalti loans denote those loans which are conceded to farmers in helpful cooperative societies at zero percent interest up to three lakh rupees and at three percent interest up to ten lakh rupees, which can be reestablished. The total outstanding under this head as on date is around Rs 11,700 crore. Over due loans are those which are benefited under this head however stand unpaid. 

All farmers who have availed loans from cooperative institution up to one lakh rupees will get advantage of this plan. The government will bear an extra Rs 5,000 crore as a result of this additional coverage. It is learnt that over due loans of farmers of the state remaining in nationalized banks totaling to Rs 29,279 crore would likewise be waived. 

On the demand of the speaker to forgo loans of Sthree Shakthi self help groups having 11 lakh individuals adding up to a thousand crore, the chief minister said he will consider this request and take a decision later.