Rs 60.58 cr loan of fishermen waived

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.