Mysuru: The Karnataka government has suspended recovery of loans taken from Primary, Cooperative, Agriculture and Rural Development (PCARD) banks with immediate effect. The move has been welcomed by the State Sugarcane Growers’ Association, Mysuru.
The farmers had launched agitation over loan recovery in which the tractors of defaulters were seized and the blank cheques were collected from them.
Kurubur Shanthkumar, president of the association said, the government has sensed the anger of farmers and have suspended the recovery.
N S Prasanna Kumar, the Registrar of Cooperative Societies issued a letter to the Managing Director, Karnataka State Cooperative Agriculture and Rural Development Bank (KASCARD) to stop action till further instructions.
“Following the promise of the JD(S)-Congress government to waive tractor loans after crop loan, the farmers did not pay instalments towards tractor loan. Following this banks seized tractors and the blank cheques from them,” said Shanthkumar.
“After floods, farmers were in distress due to this and the government’s decision has given relief to the farmers,” he said.
To Listen to this News click on the play button.