Loan scheme, Wayanad loan waiver not cleared after protest mars meeting of Kerala State Co-operative Agricultural and Rural Development Bank

The Kerala State Co-operative Agricultural and Rural Development Bank (KSCARD) was unable to pass a ₹3,500 crore farm loan scheme for the 2025-26 fiscal and a loan waiver for the Wayanad landslides victims on Saturday after a section of the bank representatives raised objections.

KSCARD Bank president C.K. Shajimohan told a press conference that the none of the subjects in the agenda could be passed due to the protest. The bank had plans to write off loans totalling a little over ₹1.05 crore of 52 landslide affected persons in Wayanad. This proposal also could not be cleared, said Mr. Shajimohan.

KSCARD Bank had contributed ₹50 lakh to the Chief Minister’s Distress Relief Fund (CMDRF) for helping the landslide affected in Wayanad. The National Bank for Agriculture and Rural Development (NABARD) had sanctioned ₹100 crore to KSCARD Bank under long-term refinance, as per a decision taken at a meeting with NABARD chairperson K.V. Shaji on September 20 in Mumbai, said Mr. Shajimohan. This money will be used to provide loans to farmers at 8.5% interest.

Published - September 28, 2024 08:34 pm IST