Co-operative banks demand change in loan waiver scheme

Co-operative banks across the Bengal state want changes in the existing guidelines for selecting farmers under the Center’s loan waiver scheme. The authorities of the cooperative banks said the existing guidelines should be changes so that those farmers who have repaid their loans by selling either their farm lands or ornaments should be brought under this scheme and a percentage of money should be exempted and returned to them as relief.

Regarding this the bank authorities have submitted a memorandum before the state cooperation minister Mr Rabin Ghosh at a state conference of the cooperative banks held at Mecheda in Midnapore East district.

The bank authorities have submitted a memorandum at the time when the loan waiver scheme is awaiting for implementation of the Rs 71,000 crore farm debt waivers and relief scheme is in progress with public sector banks, regional rural banks and cooperatives displaying names of the beneficiaries at branches. The Contai Cooperative bank, Mr Sisir Adhikari, said that those farmers who have been repaying their loans on time and regularly have now said that they will not be doing so as it looks like the government is helping only those who have defaulted with their payments. Because of this unwavering attitude of the farmers, majority of co-operative banks in the state are now facing an acute fund shortage. He said this situation has arisen due to the surge in kharif loan demands from fresh eligible borrowers in the wake of the Centers debt waiver scheme.

Mr Adhikari also said: “We have asked the government to exempt a percentage of the loan amount for repayment for those who have returned their loan amounts to the banks during the stipulated period”. During his speech before the delegates, Mr Ghosh said: “The state has already asked the Centre to include in the scheme names of those farmers who had paid their loans and also those farmers who had rescheduled their loans.”