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Sun, Apr 21, 2019 | Last Updated 11:34 pm IST

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Kerala government given a moratorium on farm loans till October 2019

Kerala government given a moratorium on farm loans till October 2019
Kerala government given a moratorium on farm loans till October 2019

Accordingly the Election Commission (EC) has delayed the Kerala government’s decision to implement the extension of the moratorium on loans taken by farmers. As per the new directive from the EC, the government can implement this only after April 23, the day when the state will go to polls and the Chief Electoral Officer (CEO) Tikka Ram Meena said that the government can issue an order for extension of the moratorium after elections.

Kerala government given a moratorium on farm loans till October 2019

Furthermore the CEO had earlier given nod to the government’s decision to extend the moratorium on farm loans but had forwarded the request to the Election Commission for the final word earlier this month and hence the EC, however, returned the file, asking more clarifications on the report.

Previously during the floods, 2.8 lakh farmers in the state had incurred a loss of about Rs 1,050 crore. About 46,000 hectares of crops had been destroyed in the flood. Moreover the decision to give moratorium was taken in a meeting held by State Level Bankers Committee (SLBC) on the request of the government last August, soon after the floods. Nationalized banks, cooperative banks, small finance banks and scheduled banks had agreed to the moratorium for loans taken by farmers.

Kerala government given a moratorium on farm loans till October 2019
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Bharath has been the knowledge focal point for the world, As Darvin evolution formula End is the Start ... Bharath again will be the Knowledge Focal Point to the whole world. Want to hold the lamp and shine light on the path of greatness for our country Bharath.