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Centre to mull requests on coop bank farm loan waiver

Centre to mull requests on coop bank farm loan waiver
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First Published: Mon, Jun 30 2008. 02 21 PM IST
Updated: Mon, Jun 30 2008. 02 21 PM IST
PTI
Ariyakudi (Tamil Nadu): Finance Minister P Chidambaram has said that the Centre would consider requests from various states, including Tamil Nadu and Karnataka, for absorbing farm loan waiver given through cooperative banks.
“The Centre will look into demand of the state governments after completion of the ongoing debt waiver process (through banks),” he told reporters here yesterday (29 June).
Karnataka and Tamil Nadu have given proposals urging the Centre to bear this burden. Tamil Nadu had waived farm loans of Rs7,000 crore in this respect.
Chidambaram said the Vaidhyanathan committee had made a number of recommendations for reviving and restructuring cooperative banks.
While accepting the recommendations, there were chances of coopertives getting funds. However, “the schemes of the Centre and the state should not overlap,” the Finance Minister said.
The Centre is currently in the process of waiving farm debt totalling over Rs71,000 crore through banks. The loans are supposed to be waived off by today.
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First Published: Mon, Jun 30 2008. 02 21 PM IST