Nation Current Affairs 11 Jun 2019 Thiruvananthapuram: ...

Thiruvananthapuram: Cooperative banks not to use SARFAESI Act

DECCAN CHRONICLE.
Published Jun 11, 2019, 6:38 am IST
Updated Jun 11, 2019, 6:39 am IST
The government has now brought loans availed from commercial banks also within the purview of the Debt Relief Commission.
n The decision regarding the two major relief measures were made by Chief Minister Pinarayi Vijayan while participating in the discussion on the adjournment motion moved by Opposition. The Chief Minster intervened to make these announcements during agriculture minister V.S. Sunil Kumar's reply to the adjournment motion.
 n The decision regarding the two major relief measures were made by Chief Minister Pinarayi Vijayan while participating in the discussion on the adjournment motion moved by Opposition. The Chief Minster intervened to make these announcements during agriculture minister V.S. Sunil Kumar's reply to the adjournment motion.

Thiruvananthapuram: The state government on Monday decided to ask state cooperative banks, urban banks and other banks in the cooperative sectors which come within the purview of RBI, against issuing notices for property attachment under  SARFAESI (Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest) Act.

All loans up to Rs 2 lakh availed by farmers from cooperative and commercial banks would be written off. The government had earlier announced that only loans taken by farmers from cooperative banks would be written off. The decision regarding the two major relief measures were made by Chief Minister Pinarayi Vijayan while participating in the discussion on the adjournment motion moved by Opposition. The Chief Minster intervened to make these announcements during agriculture minister V.S. Sunil Kumar’s reply to the adjournment motion.

 

15 farmers committed suicide in the state While ten farmers committed suicide in Idukki, five took the extra step in Wayanad said minister V.S. Sunil Kumar. Meanwhile, the moratorium on farmers’ loans has been extended to December 31, 2019.

The minister said Rs 51 crore has been earmarked for crop loss insurance. Besides, a financial aid worth Rs 204 crore has been distributed so far.

The minister took stro-ng exception to the banks’ attitude of harming the interest of farmers. The notice for adjournment motion seeking a discussion on farmer suicides was moved by Congress legislator I.C. Balakris-hnan. He accused the government of cheating the farmers.

 

The Opposition had alleged that cooperative banks which were under the government were iss-uing attachment notices to farmers’ despite moratorium in place. Taking the Opposition head on, Sunil Kumar reminded that it was  previous Congress-led UDF government that brought cooperative banks within the purview of the SARFAESI Act.

The agriculture minister informed the Assem-bly that Agriculture Debt Relief Commission had initiated the process of receiving applications from farmers who had availed loans from cooperative banks.

The government has now brought loans availed from commercial banks also within the purview of the Debt Relief Commission.

 

The proposal would be discussed by the General Administration Departm-ent and Agriculture Department with the representatives of the commercial banks to ensure the speedy implementation of the announcement. A concrete policy in this regard would be formulated in a couple of months, he added.

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