Karnataka may weed out 7 lakh farm loans from waiver scheme -Sharath S Srivatsa

-The Hindu

In case of loan in both cooperative and commercial banks, the former qualifies for waiver

Bengaluru: The intensive de-duplication work to identity farmers eligible for loan waiver is expected to identify at least 7 lakh people who have loans in both cooperative sector and commercial banks, resulting in saving of at least Rs.6,000 crore to the State exchequer. A farmer will be eligible for loan waiver from one of the two accounts if he holds both.

This means that about 33 lakh accounts of the nearly 40 lakh loan accounts across the cooperative and commercial bank sectors in the State will receive the benefit.

5.5 lakh identified so far

“So far, of the about 15 lakh commercial bank loanees who have given details, about 5.5 lakh farmers have been found to be having loan accounts in both the sectors,” sources told The Hindu. Once the documentation of all the 21 lakh loan accounts in commercial banks is completed, it is expected that at least 7 lakh farmers would be having loans from both the sectors, sources added.

 

 

While those in the cooperative sector will receive Rs.1 lakh loan waiver and those having crop loans in commercial banks will receive Rs.2 lakh. The de-duplication work with the aid of a specially developed software has helped in identification of those farmers having loans in both the sectors. After the de-duplication work, farmers will receive loan waiver benefits for their loan accounts in the cooperative sector. For the de-duplication work, the government has sought Aadhaar number, ration card, and land survey numbers.

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