Karnataka Farm Loan Waiver 2017: More than 16 Lakh Farmers to be Benefited

Bengaluru: More than 16 lakh farmers in Karnataka who obtained farm loan up to Rs 50, 000 from Co-operative Banks in the state have been exempted from their loans after the state government waived their farm loan this week. A total of 16,94,962 farmers who obtained loans below the level of Rs 50,000 are expected to be exempted from the farm loans. With the new move, nearly 75% farmers loan in Karnataka has been waived.

Meanwhile, 5,32,544 farmers have obtained farm loan more than Rs 50,000 and out of which only Rs 50,000 could be waived by the state government. The remaining amount should be remitted by the farmers. However, a clear picture on the farm loan waiver 2017 would emerge only after the release of the circular by the government on the matter.