K.N. Shivalingaiah, Chief Manager, State Bank of Mysore, has said that over Rs. 7,561 crore were advanced to farmers by banks in Mysuru and that Rs. 1,861 crore were advanced in the last year alone.
Participating at a special meeting convened by the district administration here to chalk out steps to prevent farmers’ suicides, Mr. Shivalingaiah said that giving more time to repay loans to farmers is the sole discretion of the RBI and he noted that if there was drought, the RBI would automatically give a direction to all banks to give certain additional time for farmers to repay loans.
But since Mysuru district is not declared as a drought-hit district and there is normal rainfall in the district, RBI had not issued any circular so far, he said and added that an appeal can be made to RBI to extend the loan repayment period of farmers so that they would not be in stress to repay the loan amount.
Shikha, Deputy Commissioner , directed the Lead Bank and as well as the SyndicateBank, which is a member of the State Level Bank Committee, to write to the RBI seeking additional time for farmers to repay loans in the wake of incidents of farmers committing suicidesin many places including Mysuru district.
Except banana, sugarcane and turmeric, for all other crops, one year time will be given for repayment.
