Rajasthan govt to bring a one-time crop loan waiver scheme: CM

Rajasthan Chief Minister Ashok Gehlot on Monday said the state government will give relief to poor farmers by bringing a one-time scheme to waive crop loans taken from nationalised banks

"Proposals have been sent to nationalised banks in this regard and the banks should extend necessary cooperation to the state government in loan waiver of farmers," he said while addressing a meeting of the State Level Bankers' Committee (SLBC) and a seminar of the NABARD through video conference.

In an one-time loan waiver scheme, recently introduced by the State Bank of India (SBI), agricultural loans classified as non-performing asset (NPA) were waived. Ninety per cent of the loan was waived by the bank while 10 per cent was given by the farmer, Gehlot said.

"On the lines of this scheme, other banks should also bring relief to poor farmers," he said.

The chief minister said that the state government is ready to give 10 per cent of the farmer's share in this, according to an official release.

He said that several efforts have been made by the state government in the last three years to provide relief to the common man and to maintain the pace of development.

Gehlot informed that loans of Rs 14,000 crore from cooperative banks have been waived so far. The farmers' loans from nationalised banks declared NPA on November 20, 2018, are yet to be waived.