Rs 60.58 cr loan of fishermen waived

The government waived loans of 23,507 fishermen from three coastal districts, worth Rs 60.584 crore, on Monday. The decision followed a cabinet meeting chaired by Chief Minister B S Yediyurappa soon after he won the trust vote.

According to a release by the Directorate of Fisheries, the loans were availed at 2% interest under a scheme of the department, from commercial and regional banks. Beneficiaries were eligible for loans upto Rs 50,000.

The waiver was of the loans taken by fishermen in the year 2017-18 and 2018-19, the release added.