Karnataka govt announces waiver of NPA loans of about 1 Lakh farmers

Karnataka govt announces waiver of NPA loans of about 1 Lakh farmers

  • The Karnataka government has decided to waive Non-Performing Asset loans of about 1 lakh farmers, who owe about Rs 965 crore to commercial banks.

  • The banks will waive 25 percent of the loans while the balance 75 percent, which is approximately Rs 740 crore, would be borne by the government.

  • Under the crop loan waiver scheme, a maximum of Rs two lakh would be waived. The remaining would be borne by the farmer.

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