Raitha Sangha seeks waiver of loans

The representatives of Karnataka Prantha Raitha Sangha has demanded the waiver of their loans in the wake of severe drought in the district and said that a mega convention will take place at Freedom Park in Bangalore in this regard.

Representatives from various associations will take part in the convention scheduled. “The State government has failed to tackle drought and has not done anything worthwhile apart from giving assurance. In order to put pressure on the government the representatives will take part in the mega convention,” president of the association Maruthi Manpade said in a press conference organised here.

He added that if the loans are waived as many as 16 lakh farmers will be benefitted out of the 79 lakh farmers. A majority of them have taken loans from the co-operative and nationalised banks.

The high rate of interest has not prevented the farmers from taking loans. Unless the loans are waived off the farmers will not be benefitted, he added.

He said that the State should introduce Debt Relief Act based on the Kerala model and bail out farmers who have taken loan from private organisation. The State government should put pressure on the Centre and help to bail out loans taken from nationalised banks.