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Punjab farmers on verge of becoming bank defaulters: Sampla

Press Trust of India  |  Chandigarh 

The farmers of are on the verge of becoming defaulters with Amarinder Singh's "unfulfilled" pre-poll promise of loan waiver, state chief Vijay Sampla said today.

"Believing in Captain Amarinder Singh's pre-poll promise, farmers voted him to power and they now have stopped repaying the loans. If farmers do not repay the loan availed for Rabi crops by April 31, the banks will start charging 12 per cent interest instead of 4 per cent," he claimed.

The leader submitted a memorandum to Governor V P Singh Badnore, demanding an immediate agricultural loan waiver and Rs 20,000 per acre compensation to farmers for their damaged crops.

Sampla, Union Minister of State for Social Justice and Empowerment, claimed that as per State Level Bankers Committee, a loan of Rs 77,684 crores was availed by the state farmers via 30.23 lakh accounts.

Till December 31, 2016, only Rs 5,150 crore of this amount is NPA (non performing asset) which is 6.63 per cent, he said.

"This is a cause of grave concern and if Captain does not act on full waiver of agricultural debt/farmers' loan, the situation of is going to be grimmest among all states," he said.

Sampla added due to untimely rains and hail-storm combined with gusty winds, thousands of acres of wheat crop have been damaged.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, April 21 2017. 20:48 IST