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Farmers demand uniform interest rate for loans

Staff Reporter

Hail order of waiving cooperative bank loans


  • `Many Primary Agricultural Cooperative Banks will be saved by the waiver of loans'
  • `Stop toll collection by the local bodies in markets and shandies'

    ERODE: Tamil Nadu Agriculturists Association on Sunday urged the Union Government to implement the uniform interest rate of seven per cent for crop loans in Tamil Nadu from the current year.

    Briefing the media after its State Executive meeting held here, State president C. Rathinasamy thanked the Tamil Nadu Chief Minister for ordering the waiver of all cooperative bank loans borrowed by the farmers including short-term, medium-term and long-term loans.

    The representatives of the Tamilaga Vivasayeegal Sangam met DMK president M. Karunanidhi before elections and explained the plight of farmers. On this the DMK chief declared in the election manifesto about the waiver of farm loans, which was done now, he said.

    Many Primary Agricultural Cooperative Banks (PACB) would be saved because of the waiver, Rathinasamy said. The Union Government has declared that they would grant Rs. 20,000 crore for waiver of bad debts borrowed from PACBs and other cooperatives.

    It is expected Rs. 600 crore may be sanctioned for the Tamil Nadu and if it is granted to PACBs and other Cooperative Banks for waiver of such long-pending arrears of loans borrowed under IRDP scheme and other schemes, the PACBs will start functioning profitably.

    He said farmers in the State are getting very low procurement price for milk and it should be increased. He also demanded the Union and State Government to declare Parity Price for all agricultural products.

    He said the meeting has made an appeal to the Chief Minister to introduce the Medical Insurance Scheme for the farmers. The crop insurance, which is now in existence in the State should be modified. The meeting made a special reference to the pollution problem in Erode, Coimbatore and Karur districts.

    Similarly as per Government Order water should be released in the Lower Bhavani Project canal at the stipulated periods.

    The Pandiyaru-Punnampuzha and Avinashi-Athikadavu scheme should be implemented. The meeting also demanded that drip irrigation should be made popular in the State.

    The meeting made a special request to abolish the toll collection by the local bodies in the markets and shandies. State General Secretary E. Varadharajan and Erode district president E.R. Kumarasamy participated.

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