A special State-Level Bankers’ Committee (SLBC) on Tuesday has decided to instruct all bank branches to restructure loans of all eligible farmers in the wake of the drought in Karnataka.
The State has already declared 195 taluks as drought-hit and an official team of the Central government visited the taluks to assess the damage to crops. Many of the farmers have been demanding waiver of their crop loans following drought in the State.
The State government sought compensation of ₹4860.13 crore as per the NDRF norms from the Centre for providing compensation to farmers who had lost crops.
The SLBC meeting was held under the chairmanship of Shalini Rajneesh, Additional Chief Secretary and Development Commissioner, on October 7. The State faced a severe shortage in rainfall during the south-west monsoon.
