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'Loan waiver certain even if central aid not received' - Kumaraswamy

Daijiworld Media Network - Bengaluru (SP)

Bengaluru, Dec 5: "We had pleaded with Prime Minister, Narendra Modi, to extend assistance in the matter of waiving farm loans outstanding in nationalized banks. But so far, there has not been any positive response. Even if the central government does not extend financial help for the implementation of this scheme, I will take steps to waive loans as promised earlier," asserted Karnataka chief minister, H D Kumaraswamy.

He was speaking to media persons after holding meeting with MPs from the state on the issue of projects of the state pending with the union government on Tuesday December 4.

Kumaraswamy stated that he had urged the central government to absorb 50 percent of the financial burden arising out of farm loans outstanding in nationalized banks. "I wrote to the Prime Minister twice on the subject. But the central government did no respond positively," he informed.


"We will not shirk from the responsibility just because the centre has failed to extend help to us. We will meet our promise. The farmers need not worry. Loan waiver process in respect of cooperative banks will begin on December 8 at Sedam and Doddaballapur. During January, we will organize a farmers convention with the participation of ten lac farmers for disbursing loan clearance certificates," he explained.

Kumaraswamy said that the concerned have been instructed to release first installment for loan waiver relating to cooperative banks. "We have been holding meetings regularly on the issue of waiver of loans in nationalized banks. The chief secretary of the state too is conducting meetings. Initially the banks agreed to sacrifice 50 percent of principal loan amount but now they are not agreeable. There are 2.20 lac NPA accounts in these banks. Barring these, the loans of others will be clleared to the extent of Rs 50,000 each during January. Rs 6,500 crore has been set aside for this purpose in the budget, and the remaining loan too will be waived soon," he explained.

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Comment on this article

  • mak, Mumbai

    Thu, Dec 6 2018

    Central government has spent huge amount of money on statue and they are running shortage of funds to help poor and needy. But ministers in central government are wealthy and can survive for long years to come.

    DisAgree Agree [1] Reply Report Abuse

  • joe Gonsalves, Mangalore

    Wed, Dec 5 2018

    Excellent attitude on the part of Karnataka Chief Minister. The farmers work hard but often crops fail and it is expedient on the part of people to understand their problems and go to their rescue.

    I congratulate all concerned for the roles played by them in this respect.

    DisAgree [3] Agree [1] Reply Report Abuse


    Wed, Dec 5 2018

    Whether you said this during election campaign. Further, why cant you waive loans of all poor.

    DisAgree Agree [6] Reply Report Abuse

  • James Philip D sa, Belman/Kuwait

    Wed, Dec 5 2018

    easy for us to comment for every article whereas CM need big courage to implement this scheme. thousands crores of money will be diverted which will be a big loss for the governments current account.

    DisAgree [7] Agree [1] Reply Report Abuse

  • abdulla, india

    Wed, Dec 5 2018

    Loan Wavers has to be paid from The politicians ..personal account....and Funds..
    The Money which was amassed by abuse of power of their position and seats
    .Floating Fictitious cos.
    Borrowing money from banks. shell cos..?

    Let them be ACCOUNTABLE

    Pass JAN LOK PAL BILL Today.. why pending????
    TIHAR jail can accommodate all Defaulters..... corrupt.

    DisAgree Agree [9] Reply Report Abuse

  • kumara, abu dhabi

    Wed, Dec 5 2018

    increase petrol, diesel, liquor electricity and water cess.....

    DisAgree [2] Agree [3] Reply Report Abuse

  • mahesh, Mangalore

    Wed, Dec 5 2018

    Then why do u beg with the centre?

    DisAgree [5] Agree [11] Reply Report Abuse

  • Lionel Dsouza, Mangalore

    Wed, Dec 5 2018


    DisAgree [11] Agree [6] Reply Report Abuse

  • Prashant Karkera, Hejamady/Mumbai

    Wed, Dec 5 2018


    DisAgree [3] Agree [3] Reply Report Abuse

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