Big landlords in Punjab, owning over 10 acres, have defaulted on Rs 366.96 crore in loans from the Punjab State Cooperative Agricultural Development Bank, comprising over 12% of the total Rs 3,006.26 crore default amount, reports the Tribune.
These 3,645 landlords owe an average of Rs 10.06 lakh each, with some refusing repayment. Among the defaulters are political leaders from AAP, Shiromani Akali Dal, Congress, a farmer union leader, and former cooperative bank directors.
Small and marginal farmers, despite being the majority, owe smaller amounts on average. A Punjab Vidhan Sabha Committee recommended a one-time settlement scheme (OTS) for recovery, emphasizing relief for small farmers while targeting big landlords.
