Search
Banks Concerned About Declining Farm Loan Recoveries
July 31, 2017
Despite the Punjab government trying to give the loan waiver scheme a final shape by seeking details of over 10 lakh beneficiary farmers, etc. the loan recovery is declining, regarding which the banks have expressed their concerns.
As the banks had their first meeting with the Punjab Finance Minister Manpreet Badal regarding the loan waiver scheme, they said that the loan repayments have dropped significantly since the announcement of the debt waiver. They said that the loan repayment should be regular if the farmers want to claim the 3% internet subvention. To tackle this, an announcement of a cut-off date for loan waiver benefit claims has been proposed as a possible solution.
