Business Standard reports with farmers in Haryana facing widespread crop damage due to unseasonal rains, banks have decided to provide relief to growers by rescheduling their crop and term loans, deferring repayments and raising their consumption loan ceiling.
Bankers held a special meeting of State Level Bankers Committee (SLBC) here on ‘Natural Calamities -Relief Measures’ on the request of the BJP-led Haryana government.
Haryana had sought relief of Rs 1,135.91 crore from the central delegation led by Union Minister Ram Vilas Paswan last month on account of crop damaged, assistance for interest loss on loans, funds under MNREGA scheme.
Sharing details with regard to decision taken regarding relief measures, Haryana officials said crop loans of farmers would be converted into term loan for repayment in 3-5 years.
The total outstanding crop loan in Haryana has been pegged at Rs 28,558 crore with more than 22 lakh KCC cards.