Historic Decision by CM to Waive Farm Loans, Safeguarding Banks and Co-op Societies Need of the Hour – Dr Rajendra
Mangaluru: “The decision of Chief Minister H D Kumaraswamy to waive all the loans of farmers is a historic decision. SCDCC Bank welcomes and thanks the CM for his decision to waive all the farmers’ loans. We request the CM to waive the loans of farmers who are also working in co-operative societies and the representatives of farmer’s who depend on agriculture. CM Kumaraswamy has assured to waive all the loans, but at the same time, we request the government to repay the loans to the concerned banks so that we can continue to serve the farmers. In regard to the waiving of farm loans, we have to know if these farmers will still be eligible to apply for loans again”, said the president of SCDCC bank, Dr M N Rajendra Kumar in a press meet held at the conference hall, SCDCC Bank premises Kodialbail here on May 31.
Addressing the mediapersons, Dr Rajendra Kumar said, “CM Kumaraswamy has promised to waive farmers loans within 15 days. At the same time, we urge the CM to credit the amount of the farmers loans to the respective banks so that the banks and the co-operative societies can continue to give loans to the farmers. Co-operative societies are the backbone of the farmers. In Belthangady, the Tannirupantha Primary Agricultural Credit Society has given Rs 20 crore loan out of which Rs 16 crore is farm loans. At the same time, the Aletti Primary Agricultural Credit Society has given 20 crore farm loans. In Udupi, Syndicate Farmers Service Co-Operative Society Ltd Kokkarne has also given Rs 10 crore farm loan. The South Canara District Central Cooperative (SCDCC) Bank has given Rs 1265 crore farm loans in Udupi and Dakshina Kannada districts. If the government waives all the loan without crediting the amount to the respective banks, the banks and co-operative societies will face problems and 75% of the employees of SCDCC and Apex banks will lose their jobs.”
Dr Rajendra Kumar further said, “If such a situation continues, banks and co-operative societies may face losses and many employees might lose their jobs. I request the government to credit the loan amounts to the respective banks and waive the farmers’ loans.”
