October 16, 2009

The banking industry, including cooperative banks, in Karnataka has agreed to reschedule all farm loans — short-term loans to medium-term loans and medium-term loans into long-term loans.Banks will also refrain from demanding repayment of agriculture loans during the current financial year. Chief Minister B.S. Yeddyurappa, his Cabinet colleagues and top officials of the State Government on Thursday held a meeting with senior representatives of the banking industry.

They called upon the banking sector to provide relief to farmers in the 15 flood-hit districts.The other Ministers present included Ramachandra Gowda, V.S. Acharya, Shobha Karandlaje, Venkataramanappa, Katta Subramanya Naidu and S. Suresh Kumar. Briefing presspersons after the meeting, the Chief Minister said all bank employees would also contribute a day’s salary for flood relief.