BELAGAVI: A day after warrants of arrest were issued to farmers in Belagavi by a Kolkata-based court for loan default, Axis Bank Regional Head (Branch Banking, South) Sadashiva Mallya said the legal proceedings were initiated almost six months ago in accordance with the laws of the land, following failure of loan repayment by the farmers.
The bank has also been working towards an amicable loan repayment process through a one-time settlement schedule and would like to encourage farmers to avail the opportunity.In a press release, Mallya said, “We are cognizant of the notification issued by the Government of Karnataka on the loan waiver scheme and shall be aligned with the state government and the SLBC directives in this regard. Needless to say, the interests of the farmers are of utmost priority and the bank will work with the Karnataka government to resolve the matter in the best interests of all parties concerned.”
He said Axis Bank, through its branches, has extended various credit facilities to farmers who have borrowed money for their farm-related activities.Several farmers, under the banner of Karnataka Rajya Raitha Sangha, staged a protest in front of the main branch of the bank at Bailhongal in Belagavi on Monday, for booking them for loan default. In response, the bank officials assured them that the arrest warrants will be withdrawn after consultation with senior officials.