The record
Written from the 1 report below. Nothing here is unsourced.
- Farmers in 101 drought-affected taluks of Karnataka have been given a 12-month moratorium on repayment of all agricultural loans by the State Level Bankers Committee (SLBC).
- The decision was taken at an SLBC meeting chaired by Chief Secretary Shalini Rajneesh on Wednesday.
- The relief covers Kisan Credit Card loans and farm-related loans from nationalised and commercial banks, including dairy, sericulture and fisheries loans.
- Loan repayment periods have been extended to 60 months for farmers in severely drought-hit taluks and 36 months for those in normally drought-affected taluks.
- Farmers can also take fresh loans during the moratorium, and forceful loan recovery is banned with complaints to be addressed by district authorities.
What to watch next
- Finalisation of moratorium and loan extension terms, likely on the 26th, including whether extra interest is charged
- A decision on extending repayment periods for cooperative bank loans after NABARD and state government discussions
- Possibility of more taluks being declared drought-hit by the end of the monsoon season, which would extend relief automatically
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Indian-language1
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Named India · Karnataka Government · National Bank for Agriculture and Rural Development · Shalini Rajneesh · State Level Bankers' Committee
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