Implement loan waive in transparent way: Kumaraswamy

Karnataka Chief Minister HD Kumaraswamy on Monday asked officials to implement agricultural loan waive scheme in a transparent manner.

Addressing a meeting with the District Deputy Commissioners and Chief Executive Officers,b Kumaraswamy said that the state government has decided to waive off the agricultural loans to the tune of Rs 49,000 crore. A government order on the guidelines would be issued soon.

On July 5, Kumaraswamy announced a partial loan waiver of Rs 34,000 crore which would benefit farmers whose loans are less than Rs 2 Lakh.

The Kumaraswamy-led Janata Dal (Secular) had resolved to waive farm loans borrowed both from cooperative and nationalised banks within 24 hours of formation of government.

The state has decided against waiving off higher value crop loan.

--ANI