Karnataka to waive loans worth Rs 79.47 crores of farmers who died of Covid

The Karnataka government is all set to announce a loan waiver for families of the 10,187 farmers who lost their lives to the pandemic. The process of identifying the beneficiaries is complete. The loan amount taken from banks and Agricultural Cooperative Societies is calculated at 79.47 crores.

"The scheme is being implemented as the family which has lost their breadwinner will be facing a financial crisis and they won't be in a position to repay loans. A decision will be taken in three-four days," ST Somashekar, minister for cooperation, said.

To ensure smooth and quick processing of the waiver, a meeting with the apex bank management will be held. A special meeting will also be held on Saturday to formulate guidelines.