Cooperative Banks ready the list of borrowers: Farmers happy because of parties assurance
Posted on: 13/May/2016 12:34:48 PM
Though many private and public sector banks have come up these days, there is popularity of cooperative banks in the villages. There are about 4000 cooperative societies in Tamil Nadu. These banks give crop loan, loan for self-help group, jewelry loans, small business loans, home loans and farm vehicle loans. Sometimes the farmers will not be able to repay the loans because they don’t get proper revenues.
In 2006 when DMK came to power, the government waived the loan to the tune of Rs 6, 700 Crores. After this, the farmers do not repay the loans under the assumption that the government will waive their loans.
Now during this election campaign the AIADMK and DMK parties have announced in their manifestos that the farmer loans will be waived. Moreover DMK party president Karunanidhi announced day before yesterday that all the loans of the farmers will be waived.
At this juncture, it has been confirmed that the farmers’ loans will be waived. Hence the cooperative banks have started preparing the list of farmers who have borrowed loans. The officials were shocked to see that the list contains 80 percent of the farmers who had their loans waived in 2006.
