Karnataka govt mulls waiving DCC & Apex bank loan of farmers who died of COVID-19

Karnataka Co-Operation Minister S T Somashekar on Thursday said the state government is mulling waiving loans taken from the District Credit Cooperative (DCC) and Apex banks by farmers, who succumbed to COVID-19.

He said the data is being gathered and the government will take a decision in a couple of days.

Depending on the amount of loan taken by those who have died due to COVID-19 in the limits of DCC and Apex banks, which are in profit, the government is considering waiving their loans, Somashekar said.


Speaking to reporters here, he said, "information is being gathered on the number of people who have died due to COVID after taking the loan, volume of loan taken, amount repaid and the balance, a decision will be taken in two to three days."

The Minister also hailed the formation of new Ministry of Cooperation at the Centre, saying it would provide impetus to the cooperative sector.