Deputy Chief Minister Mallu Bhatti Vikramarka has instructed bankers to provide new farm loans to farmers who have been released from their previous debts under a loan waiver scheme. He warned that strict action would be taken against bankers who cause problems in clearing the remaining loans of farmers according to government guidelines. Bankers must explain themselves to the government if farmers file complaints about their loan waivers.
The second phase of the farm loan waiver, up to 1.50 lakh, will be completed by the end of this month. Bhatti announced that Rs 31,000 crore will be released before the end of August for the loan waiver for farmers. He spoke at a special SLBC meeting and directed bankers to immediately approve loans for farmers after disbursing funds for the loan waivers. He emphasized that bankers should not delay in providing loans to farmers and suggested that the Lead Bank take a leading role in this process.
Bhatti also encouraged bankers to hold celebrations at their branches to mark the waiver of farmers’ loans and to promote the program extensively. For farmers with loans exceeding Rs 2 lakh, bankers should communicate with them to recover the excess amount and use the Rs 2 lakh provided by the government so that no farmer remains indebted to the bank. Bhatti highlighted that the loan waiver for farmers is a significant decision and emphasized that no other state government has waived loans amounting to Rs 31,000 crore.
The State government plans to deposit Rs 31,000 crore into 40 lakh bank accounts as part of the loan waiver scheme.
