Karnataka - Hubli-Dharwad   

Loan waiver scheme termed eyewash

Staff Correspondent

`Scheme will not benefit farmers of undivided Dharwad district'

DHARWAD: The loan waiver scheme announced by the coalition Government is eye wash and farmers belonging to the erstwhile undivided Dharwad district (Dharwad, Haveri and Gadag districts) will not benefit from it, leader of cooperative movement and former vice president of the zilla panchayat V.S. Patil has said.

Addressing presspersons here on Thursday, he said though the scheme is a welcome move, it is of no use to the farmers of these three districts.

The Karnataka Central Cooperative (KCC) Bank, the central cooperative bank of these three districts, that has 81,000 members was supposed to disburse loans to the tune of Rs. 405 crore. However, only Rs 72.68 crore was disbursed as loan during the year and farmers would not get the benefit of loan waiver scheme, he said.

Mr. Patil said since the KCC bank was in the doldrums, it was not in a position to provide financial assistance to farmers according to their requirements. Consequently, many have taken loans from other banks. "The programme will be useful to the farmers of these districts only when the Government gives exemption to the farmers of these districts by waiving of the loans taken from all the banks," he said.

Mr. Patil said the Government should immediately expedite the process of revival of the KCC Bank and release the pending amount.

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