Sisir Khatua (38) was found hanging from a beam in his house at Digambarpur village under the jurisdiction of Dharamsala police station.
Khatua's family claimed that the farmer had taken loan from private money lenders for farming on 4 acres of land but was unable to repay the money.
"My husband was under mental stress due to loan burden as he had taken over Rs 1 lakh loan from private money lenders," said the wife of the deceased.
Police sent the body for post-mortem examination, the IIC said.
"We are investigating into the case from all angles," he said.
Jajpur district Collector Ranjan Kumar Das said he has asked the local Tehsildar to probe the incident.
This is the second such incident in Dharamsala block in the last fortnight. Gauranga Bala (45), a debt-ridden farmer of Mangrajpur village, had allegedly committed suicide by hanging himself on September 25.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)