Farm loans: Axis Bank to shift cases to Karnataka

Many farmers, including 180 from Belagavi, have availed loans from Axis Bank but failed to repay it owing to  persistent drought and other natural calamities.

Published: 09th November 2018 09:09 AM  |   Last Updated: 09th November 2018 09:09 AM   |  A+A-

Axis Bank.

By Express News Service

BELAGAVI: After hectic discussions with top officials of state government, Axis Bank on Thursday decided to make arrangements for shifting of cases filed against farmers of Karnataka from a Kolkata-based court to the state. 

Calling the discussions which the bank had with the state government “constructive,”  Axis Bank, in a statement, said, “The interests of farmers remain our top-most priority and the bank will work closely with the state government to resolve the matter in the best interests of all the concerned stakeholders.’’ This decision comes a day after several of its top officials held a meeting with Belagavi Deputy Commissioner S B Bommanahalli at the DC’s office in Belagavi.

A Kolkata-based court had issued arrest warrants to several Karnataka farmers for default of agriculture loans availed by them.  Although, the bank made it clear that the cases were filed against the erring farmers in 2009, it decided to follow the directive of the state government on waiver of farm loans that prevents any action against farmers.

Many farmers, including 180 from Belagavi, have availed loans from Axis Bank but failed to repay it owing to  persistent drought and other natural calamities.

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