Bengaluru, Aug 15,2016: Karnataka offers 50% farmer loan waiver. Karnataka on Monday provided to waive off 50 per cent of the cooperative loans availed of by the state’s farmers if the Centre agreed to jot down off the same proportion of loans sanctioned to them by nationalised banks.

“Our authorities is able to waive off 50 per cent of the cooperative loans availed by farmers, offered the Union government too agrees to put in writing off 50 per cent of the mortgage quantity financed by nationalised banks,” Chief Minister Siddaramaiah mentioned in his deal with on the 70th Independence Day perform right here.

Karnataka offers 50% farmer loan waiver.

Farmers throughout the state have availed of loans totalling Rs 29,000 crore from numerous nationalised banks throughout 2014-15 and 2015-16.

Asserting that his authorities was dedicated to stop farmers from falling right into a debt entice, the Chief Minister mentioned interest-free loans have been offered to them and repayments deferred by one 12 months attributable to two consecutive years of drought as Karnataka offers 50% farmer loan waiver.

“Cumulative curiosity amounting to Rs 316.54 crore was waived off on cooperative loans availed as much as September 30, 2015, by 2.07 lakh farmers,” Siddaramaiah mentioned when Karnataka offers 50% farmer loan waiver.

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