'Farmer were not forced to repay loans'

Addressing the reporters after attending the Picard Bank Board Meeting on Saturday, he said that bank has recovered 38 per cent of loans and in case bank recovers another 12 per cent of loans it will be in a position to provide new loans.

He said that Government has directed banks to take steps to recover 100 per cent loans with regard to the tractor loans. The officials had hence visited the homes of the farmers who had availed these loans. He clarified that officials had not forced or threatened any farmer to repay the loans.

He said that farmers who repay loans on time can avail a interest rebate of 3 per cent while those who fail to repay the loans will have to pay 12 per cent extra. He said that they have prepared a list of 100 defaulters and they are trying to convince them to repay the loans.

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