CM Siddaramaiah : Waiver of farm loan to benefit defaulters and not honest farmers

CM Siddaramaiah : Waiver of farm loan to benefit defaulters and not honest farmers

Shivamogga: Chief Minister Siddaramaiah on Monday said that waiver of farm loans would benefit only defaulters and not honest farmers who have repaid loans.

Speaking to journalists during his visit to the city to take part in 28th National Survey Day, Siddaramaiah said that out of the total farm loan of Rs 52,000 crore availed of by the farmers in the state, Rs 42,000 crore was borrowed from commercial banks and nationalised banks while a sum of Rs 10,000 crore was availed from co-operative banks.

Further he mentioned that co-operative banks have recovered around 90 per cent of the lent amount and the waiver will benefit only defaulters and not those who have repaid the loans promptly.