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Kerala to object SLBC's recovery procedures on farmer loans
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SME Times News Bureau | 24 Jun, 2019
An advertisement from the State
Level Banker's Committee (SLBC) that appeared in leading dailies in
Kerala on Sunday has upset the government as it stated that recovery
procedures on farmers loans will go ahead on defaulters.
Speaking
to the media here, State Finance Minister Thomas Issac said this issue
will be taken up strongly at the upcoming SLBC meeting to be held here
on June 25.
"They have written off Rs 5 lakh crore of outstanding
amount of the corporates, but have come out with rules against the
farmers and are threatening with recovery procedures. It's not right to
say that only paddy cultivation is classified under agricultural loans.
If agricultural land means only paddy fields, then in Kerala it's just
15 per cent. We will raise this issue at the SLBC meeting very
strongly," said Issac.
In 2019 alone, about two dozen farmers
committed suicide after the banks strictly went ahead with recovery
procedures even after the government had announced that due to the
piquant situations faced by the state in terms of the worst ever floods
last year, all loans taken by the farmers would get a moratorium till
December 31 2019.
At the SLBC Sub Committee on Natural Calamity
(2018), one of the decisions taken was with regard to providing
moratorium on agricultural loans and loans to those borrowers whose
income is largely from agriculture and allied activities. The committee
clarified that banks may permit moratorium to those loans pertaining to
flood affected villages notified by the government, subject to the
permission from the Reserve Bank of India (RBI).
However, in the
advertisement the SLBC said the RBI guidelines have to be followed by
all banks and the moratorium ends on July 31.
State Agricultural Minister V.S. Sunil Kumar said the state government will take up this issue with the Centre.
"We
will meet the RBI officials on this and at Tuesday's meeting of SLBC,
this is going to be taken up seriously. They now say that the moratorium
ends on July 31, which is wrong. In fact, banks do have the right to
extend the moratorium," said Kumar.
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