Farm loan waiver: Karnataka imposes 11 conditions

Bengaluru: The state government which has announced waiver of crop loans up to Rs 1 lakh issued  by nationalised banks and cooperative societies until July 10, has also imposed 11 conditions for  eligibility of farmers for the  scheme.

In an order the government  has said the crop loan waiver amount will be reimbursed through a direct benefit transfer scheme to the farmers' accounts to avoid misuse by  middlemen. It  has also clarified that if farmers want to claim loan waiver of one lakh, they will have to pay the current outstanding loan of over one lakh and the compounding interest levied upon it  on or before March 31, 2019.

The order says that if a farmer has filed his income tax return for even one year during the last three years  or has a  job in the government or cooperative sector and gets a monthly salary of Rs 20,000 , he will not be eligible for the scheme. Those farmers who have taken a loan on gold ornaments, or a  vehicle loan or a loan to buy fodder or anything else will also not be able to claim it.

And  if a farmer has deposited money in a DCC or any commercial bank before July 10, 2018, it will be adjusted against the  overdue crop loan. Should a farmer have died after taking the crop loan, his family member will be able to claim the waiver.


Note from Kannada.Club :

This story has been auto-generated from a syndicated feed from .