Waive farm loans, CM writes to Modi

Waive farm loans, CM writes to Modi

Chief Minister Siddaramaiah has urged Prime Minister Narendra Modi to waive farm loans extended by commercial banks, private banks and regional rural banks in view of severe drought in the state.

In a recent letter to the prime minister, Siddaramaiah said his government is willing to consider waiving 50% of farm loans extended by co-operative banks if the Centre accepts his request. Majority of the farmers in Karnataka have availed of farm loans from commercial and other banks, the letter stated.

About 32.65 lakh farmers have availed themselves of crop loans of Rs 42,329.60 crore from various commercial banks and regional rural banks, while 23.14 farmers have availed themselves of crop loan Rs 10,551.99 crore from co-operative banks, he added.

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