Bhopal: Fearing NPA, banks agreed to waive farmers’ loan says Kamal Nath

BHOPAL: Due to fear of NPA, the banks had waived off loan of farmers, said the chief minister Kamal Nath while talking to media here on Tuesday. The state government had asked nationalised banks to waive off farmers’ loan and if not then the state government will take over loan and it will become NPA. Fearing this, banks had decided to waive off the loan, he said.

Nath’s statement came after former chief minister Shivraj Singh Chouhan claimed that the ruling Congress has failed to implement the farm loan waiver scheme it had promised ahead of the November assembly polls. “I don’t want to say it publicly, but I am telling you how the scheme was formed. Nationalised banks were told to settle the account with 50 per cent of amount and the cooperative banks were told that whatever amount is waived off will be given by the state government in the form of capital”, he informed.