Kerala Chief Minister Pinarayi Vijayan has asked banks to take extraordinary measures to support farmers in Wayanad who have been badly affected by landslides. With agricultural lands becoming unusable and many farmers losing their homes, Chief Minister Vijayan stressed that banks must help those who are unable to repay their loans as the situation has become untenable.
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First published: August 19, 2024, 3:20 PM IST | Last updated: August 19, 2024, 3:20 PM IST
Thiruvananthapuram: Chief Minister Pinarayi Vijayan appealed to banks to help landslide-affected families in Wayanad by waiving their loans completely on Monday (August 19). Admitting that partial measures such as interest waiver or extended repayment periods are not enough, Chief Minister Vijayan stressed the need for comprehensive loan waiver and expressed confidence that the banking sector can absorb this gesture of support to the affected communities.
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He praised Kerala Co-operative Bank for its proactive decision to waive loans and urged other banks to do the same at the SLBC (State Level Bankers’ Committee) meeting.
“Every bank should take the initiative and completely waive debt in this sector. This is not an unattainable goal,” said CM Vijayan.
“The situation in Wayanad is dire. The agricultural landscape of the region has been irreversibly changed. Reports say that the land is no longer suitable for housing or agriculture. With most farmers having to repay loans and many having lost their houses built with borrowed money, the situation has become untenable. Banks must now take bold and exemplary action to tackle this crisis,” he added.
The Chief Minister also condemned the action of the Kerala Gramin Bank in Chooralmala, which is deducting loan repayments from the relief funds for the disaster-affected people, stressing that such actions are unacceptable in times of crisis.
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