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Karnataka Government tells banks to renew loans to draught hit Karnataka
Karnataka Chief Minister Siddaramaiah has urged the state-run banks and cooperatives to grant fresh loans to farmers amidst the severe draught being faced across the state.

A State Level Bankers’ Committee meeting was held in Bengaluru where the Chief Minister stated that “There is an urgent need to financially assist the farmers to mitigate their hardship, as 139 local bodies (sub-districts) during the 2016 kharif season and 160 local bodies for the rabi season were declared drought-hit across the state.”

The Chief Minster hold the finance portfolio in the state and while projecting the annual credit plan for this fiscal (2017-18) at Rs 1, 60, 020 crore, he also regretted that the targets set for a similar plan in the last two fiscals 2015-16 and 2016-17 were not achieved under the education and housing loan portfolios.

The disbursement under the housing loan portfolio declined to Rs 5, 916 crore in 2016-17 from Rs 9, 061 crore in 2015-16. The disbursement under the education loan also declined to Rs 1, 639 crore in 2016-17 from Rs 2, 248 crore in 2015-16. The banks have achieved only 80 per cent of the target set for crop credit disbursement for 2016-17.
Posted on: 2017-05-29 12:23:15





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