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Govt waives loans of farmers who committed suicide

By: Finance News

Keeping up the promise made at the time of assuming office, the LDF government today issued orders to write off agricultural loans upto Rs two lakh availed by farmers who had committed suicide.

All cases of suicide confirmed by District Collectors from January 1999 to July 2006 would be considered for write-off, the Government Order said.

A total of 549 cases of suicide have been reported till now. In the case of loans availed from co-operative banks, an amount upto Rs two Lakh would be waived, while the ceiling fixed by scheduled banks is Rs one lakh.

The State Level Bankers Committee (SLBC) meeting held in June last had agreed to waive loans upto Rs one lakh, including principal and interest, the order said.

Loans availed from unscheduled banks and private money lenders would be considered by the Agricultural Debt Relief Commission, to be constituted by the government shortly.

All cases of write-off would be looked into by a committee constituted at the district level with district panchayat president as chairperson and collector as convenor.

The write-off would be based on production of documents, including death certificate, FIR and bank statement of accounts.

The implementation of the order would be monitored by a state-level committee, with Chief Minister V S Achuthanandan as Chairman. The agriculture, finance and co-operation Ministers will be among the members of the panel.

Article Source: http://www.share.onlypunjab.com

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