Commission saves farmers from clutches of financiers
HYDERABAD: Rising land prices due to construction of irrigation projects has become a bane for the farmers as private money-lenders are not willing to release agricultural lands which they have under mortgage. Recently, a farmer, who mortgaged his land with a private money-lender, was unable to get back his land as the money-lender refused to take back the loan amount. Unable to find a solution, he approached the State Commission for Debt Relief. After several such cases came to the notice of the Commission, a meeting was held on Tuesday to resolve the cases.
After the intervention of the Commission in one of the cases, the private money-lender agreed to return the land related documents to a woman farmer, Vajramma. “She had pledged the land in 2012 to the money-lender. Though, she was willing to repay the loan, the money-lender was not willing to take the amount back and give her land back,” sources in the Commission explained.
The Commission settled as many as 15 such cases on Tuesday. The representatives of Cooperative Bank, Grameen Bank, and several commercial banks, also attended the meeting and agreed to waive off interest or extend the loan repayment tenure.
“Farmers take loans for various reasons. Some may pledge their lands to take loans for developing their agricultural lands, to meet medical expenses or for some other reason. When farmers come under pressure from money-lenders or bankers, they approach Debt Relief Commission. The Commission intervenes and helps both parties to resolve the matter amicably,” said Commission Chairman Nagurla Venkateshwarlu.