Karnataka Farm Loan Waiver Scheme for Nationalised Bank Loans

Gujarat Farmers Accidental Insurance Scheme

Karnataka Farm Loan Waiver Scheme

The Karnataka Government expects an additional burden of Rs. 30,160 crore to waive off crop loans with all the nationalized banks refusing to accept the zero interest bonds or waiver of interest on current loans. Apart from this, all the banks have also agreed to accept payment in installments but with interest calculated for all 4 years over which the loan repayment will be spread.

Apart from this, the state government has also decided that banks are ready to issue “No-Debt Certificate” to farmers immediately.

Karnataka Farm Loan Waiver Scheme

According to the official statement, the state government has decided on the quantum to be set aside for Karnataka Farm Loan Waiver Scheme for Nationalised Bank loans over the upcoming 4 years. The total amount of loans from nationalized banks is Rs. 30,160 crore. However, this loan amount is apart from the loans availed from co-operative banks. All put together, the waiver package is worth Rs. 42,000 to 43,000 crore”.

Karnataka Loan Waiver Scheme 2018 Apply Online | Raitara Sala Manna | raitamitra.kar.nic.in

When Banks will be Paid Back

The Karnataka Government will make payments to the banks in the upcoming 4 years. The amount to be paid is given in the table below –

Financial YearAmount
2018-19Rs. 6500 crore
2019-20Rs. 8656 crore
2020-21Rs. 7621 crore
2021-22Rs. 7131 crore

Earlier, the Karnataka Government has waived off the crop loans of farmers from Regional Rural Banks, Co-operative banks. Now the state government has waived off the loans from nationalized banks also to complete the farm loan waiver process.

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