Co-op banks to get loan waiver refund by June, says CM

Chief Minister H D Kumaraswamy announced on Thursday that the loan waiver money would be remitted to co-operative banks by June 2019.

Addressing reporters here, the chief minister said, “A sum of Rs 1,300 crore has been released to the co-operative banks. A total of Rs 9,458 crore will be released in phases from next month,” Kumaraswamy said.

“A special unit set up under an IAS officer has collected details of farmers who have availed loans from nationalised banks. The process to write off such loans is also on. An amount of Rs 6,500 crore has been earmarked for the purpose in the budget. Farmers need not worry,” he said.

The chief minister said that Rs 3,300 crore of the loan waiver money pertaining to the period when Siddaramaiah was at the helm has also been released. Former chief minister B S Yeddyurappa has no proper informarion in this regard and he has been misleading the people, Kumaraswamy said.

Kumaraswamy presented the ‘Sahakara Ratna’ awards to 10 personalities for their yeomen service in the co-operative sector, at the inauguration of the state-level 65th all India co-operative week.