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Karnataka
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Bangalore
`Fix 6 p.c. interest on farm loans'
Special Correspondent
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Assembly passes two resolutions
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BANGALORE:
The Legislative Assembly on Tuesday unanimously passed two resolutions urging the Centre to fix 6 per cent interest on loans to farmers and waive the interest on such loans extended by nationalised banks.
The Leader of the Opposition, B.S. Yediyurappa, K.S. Eshwarappa of the BJP, J.C. Madhuswamy of the JD(U), Vatal Nagaraj of the Kannada Chaluvali Vatal Paksha, G.V. Sriram Reddy of the CPI(M) and others tabled the resolutions. The House passed them by voice vote.
The resolutions said over 40 per cent of farmers borrow loans from nationalised banks. Since the State Government has fixed the interest at six per cent, the House urges the Centre to apply the same on loans to farmers given by nationalised banks.
The members urged the Centre to direct nationalised banks to waive the interest on farm loans.
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