Karnataka - Mysore   

Bank loan: Mysore farmers end agitation

MYSORE: After day-long negotiations between farmers and senior officials of the ICICI Bank, the Karnataka Rajya Raitha Sangha and Hasiru Sene have decided to withdraw the agitation, they launched five days ago demanding compensation to the family of H.M. Manjunath, farmer from Hospura village of Nanjangud taluk, who allegedly committed suicide because of the “strong arm tactics” of the bank.

It was decided at a meeting of farmers and bank officials convened by Deputy Commissioner N.S. Channappa Gowda that the bank would deposit Rs. 10 lakh in the form of bonds, in the joint name of the district administration and Maramma, mother of Manjunath.

A team of officers from the Regional Planning Credit Development (RPCD) wing of the Reserve Bank of India will probe the cause of death of Manjunath. The bank will pay any amount of penalty prescribed by the committee in case found guilty in the inquiry.

The bank has agreed to return five acres of land mortgaged by the farmer regardless of the report by in the inquiry committee. The tractor seized from the farmer will be returned after a case filed in this regard is finalised.

On reaching an understanding with the terms and conditions of the agreement, farmers decided to withdraw the agitation launched.

At one stage, when farmers took a rigid stand on compensation, Mr. Channappa Gowda said that he had spoken to the RBI officials, who told him that it was not possible to pay compensation according to bank norms and bank could pay penalty in case found guilty.

Earlier, ICICI Bank Chief General Manager (Customer Care) Madhivannan said that it was not possible to provide compensation but they could pay penalty after proving guilty in the inquiry conducted by a team of RBI officials.

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