Recession: farmers and entrepreneurs in debt-trap

Thiruvananthapuram: It emerges that as many as 1.37 lakh farmers and 1.17 lakh small scale entrepreneurs in the state are caught in loan-trap.  

Bank loan to the tune of 2404 crore taken by 1, 37,191 farmers and 4643 crore loan taken by 1, 17,497 crore came under bad debt; the statistics is for the period ending 2019 June.

Indicating intensity of the recession, home loan purchase has come down by 4828 crore in the state.  Despite ultimatum, farm loan of as many farmers turned out to be bad debt.

The details described here are from a report to be presented at the state level bankers meet on Thursday.

Loans to the tune of 13,665 crore availed from the banks in the state by five lakhs people are now bad debts.