Rs 1.17 crore released to district under farmers' loan waiver

The state government has released Rs 1.17 crore to waive the loans borrowed by farmers from cooperative societies in the district, said Cooperative Department district registrar Kantaraj.

He said that there are 38,575 defaulters in the district.

SL Dharmegowda, District Central Cooperative Bank president, said that out of 4,000 farmers, 1,750 people have been provided with the premium under the crop insurance scheme. Funds of Rs five crore have been released by the government towards the same. A premium of Rs 1.30 lakh was paid by the farmers.

The Pradhan Mantri Phasal Bima and the weather-based crop insurance are both unscientific. Only the insurance companies' are benefited by these and not the farmers. The weather-based crop insurance scheme should not be made compulsory for farmers, he said.

Dharmegowda, meanwhile, said that, following pressure from workers, he is thinking of contesting elections from Chikkamagaluru or Kadur constituency. However, JD(S) high command will take a final decision.

Cooperative week

Dharmegowda said that all cooperative societies will observe Cooperative Week in the district from November 14 to 20. The inaugural programme will be held at the DCC Bank's auditorium on at 11 am November 14. MLA C T Ravi will inaugurate the programme.

S L Bojegowda, State Cooperative Federation director, will deliver the keynote address. Resourse person B V Ravindranath will deliver a lecture on the occasion.

New branches of DCC

Nabard has recognised the Chikkamagaluru DCC as an 'A' category bank, during the 2016-17 assessment. This will help the farmers to avail more loan facilities from Nabard. Up to 11 new branches of DCC will be opened in Chikkamagaluru, Panchanahalli, Hirenalluru, Tarikere, Bukkambudhi, Shivani R S, Kalasa and other places. The total number of branches will, therefore, be increased to 31.

District Cooperative Union president M Narendra, executive officer Manjunath, Bank managing director Lingannaiah were present on the occasion.