After tickling waiver buds, Yogi Adityanath's iron fist on farm loans -Piyush Srivastava

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published Published on Jun 29, 2019   modified Modified on Jun 29, 2019
-The Telegraph

Familiar election-time promise of waivers had prompted many not to clear their dues in the hope that the relief would cover them

Lucknow: Some 170 Bundelkhand farmers face the threat of auctioning of their properties and possible arrest over unpaid cooperative bank loans, under a rare move by the Uttar Pradesh government that the farmers said would destroy families.

Conversations with farmers and officials suggest the familiar election-time promise of waivers had prompted many not to clear their dues in the hope that the relief would cover them.

Yogi Adityanath’s government has formed teams of officials to ensure that loans taken from the Uttar Pradesh Sahkari Gram Bank are recovered after confiscating and auctioning the defaulters’ properties. If the proceeds from the auction fall short of the arrears, the farmer may be arrested.

Around 100 farmers have to pay back an aggregate sum of Rs 7 crore by the end of June, and another 70 must shell out Rs 4 crore by July-end.

Bank sources said the arrears of a total of 2,341 farmers from Chitrakoot, Banda, Hamirpur and Mahoba districts of the Chitrakoot division of Bundelkhand had reached Rs 60.3 crore. Most of them sold their land to repay the loans after receiving notices.

But 170 farmers, the sources added, had too little land to recover the required money by selling it.

Additional commissioner (cooperatives) Vinay Kumar Mishra told reporters in Chitrakoot that the process of confiscating the loan defaulters’ properties had begun and the auctions would be held soon.

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The Telegraph, 29 June, 2019, https://www.telegraphindia.com/india/after-tickling-waiver-buds-yogi-adityanath-s-iron-fist-on-farm-loans/cid/1693416?ref=top-stories_home-template


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