Waive loan dues: farmers

ERODE, MARCH 24. Farmers today appealed to the district administration to waive their loan dues.

Participating in the Agriculturists Grievances Day, the president of the Lower Bhavani Project Ryots Association, C. Nallasamy, said that 90 per cent of the farmers had taken loans from banks for cultivating crops.

Since price of their commodity had fallen, the farmers were not able to repay their loans.

So the Government should waive the loans, he said.

Long-term loans

The Joint Registrar of Cooperatives, B. Joghee, said that as per the instructions of the Government, the loan dues of Rs. 85 crores had been converted into long-term loans. This year an additional Rs. 60 crores had been granted as crop loan.

The cooperative banks in the district had a total deposit of Rs. 850 crores. NABARD had instructed the Cooperative Land Development Banks to collect at least 40 per cent of the arrears. Due to non-payment of loan arrears by affluent persons, the Primary Agricultural Cooperative Banks could not repay the deposits in time.

The District Revenue Officer, Nagarajan, who presided the meeting, demanded affluent persons to repay their loan arrears, so that fresh loans could be given to others.

The Tamilaga Vivasayeegal Sangam president, E.R. Kumarasamy, the Thadapalli Farmers Association representative, K.E. Eswaran, the LBP Federation secretary and Ramasamy, the Vivasayeegal Sangam secretary, Munuswamy, spoke.

Recommended for you