The Karnataka government is negotiating with Nabard for increasing the amount of refinance to ensure a waiver of crop loans taken by farmers from co-operative banks in the State, reports Hindu.
The Karnataka government wants the re-finance limit to be hiked from 40 percent to 75 per cent for a successful implementation of the farm loan waiver scheme.
The Co-operation Department has already given final strokes to the guidelines and the disbursal plan for the loan waiver scheme.
Official sources say, the waiver will cover crop loans of farmers in default up to July 10, 2018. As per an estimate, total farm loan out-standings of co-operative banks stood at Rs. 11,051.19 crore.
