Farmers’ loan: Banks asked to defer recovery

The state government has asked the banks to reschedule loans pending against farmers and defer their recovery for a year in all the54 draught-hit districts. The banks have also been asked to ensure that their representatives do not resort to any coercive measures against farmers.

The move comes in the wake of drought-like situation prevailing in 54 districts that received less than 50% of normal rainfall this year, badly affecting production of kharif crops, mainly paddy. Special secretary, institutional finance, Shiv Shankar Yadav told HT banks had agreed to the request. BANKS TO ADOPT 3000 VILLAGES

In another development, banks have agreed to adopt state’s 3,000 villages as a followup to chief minister Akhilesh Yadav’s meeting with bankers during the investors’ meet in Mumbai last month. “The banks have already identified 1500 villages for adoption and another as many will identified by December,” Yadav revealed.