Karnataka government to waive all farm loans in one go

June 13, 2019 14:24

Following reports of loan-waiver gaffe, Chief Minister H. D. Kumaraswamy-led Karnataka government has decided to waive all eligible farm loans taken from nationalised banks in one go.

On Wednesday, an order by the state government was issued after reports came to fore that money credited into bank accounts of 13,988 farmers was withdrawn by banks after farmers were found ineligible for loans during an audit.

The news rattled that state government, with affected farmers alleging that the Kumaraswamy dispensation government had deposited money only to win votes and withdrew it after losing in the recently concluded Lok Sabha polls.

The Kumaraswamy-led JD(S) government, after coming to power in 2018 had announced partial farm loan waiver amounting to Rupees 34000 cr in its inaugural budget session.

The amount for each loan waiver was limited to 2 lakhs which was to be paid initially in four installments. The new announcement means the government has to release about Rs 4,617 crore at one time to complete the process in commercial banks. -- ANI

« Back to LIVE

TOP STORIES

Kerala woman cadet onboard ship seized by Iran returns home

At the airport, Joseph was received by the regional passport officer.

SC sets aside T'gana HC order declaring 106 acre of forest land as private

The humans have "selective amnesia" about the significance of forests, the Supreme Court said on Thursday while advocating the need for a change in approach towards natural resources from anthropocentric to ecocentric.

'Sun will rise tomorrow!' Curran vows PBKS' turnaround

Stand-in captain Sam Curran lauded the efforts of Ashutosh Sharma and Shashank Singh, who displayed remarkable composure in a high-pressure chase.

Hardik admits MI nerves 'tested' in thrilling win

The MI skipper was full of praise for Ashutosh's whirlwind knock, which kept PBKS in the hunt till the end.

Shooters surveyed Salman's Panvel farmhouse before Bandra house attack

Two men arrested for firing outside Bollywood superstar Salman Khan's residence in Mumbai had conducted a survey of his farm house at Panvel in adjoining Raigad district four days before the shooting incident, police said on Thursday.