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Yogi Adityanath Instructs Banks Not To Issue Default Notices To Farmers

The UP government in April had announced Rs 36,500 crore loan waiver for approximately 88 lakh farmers in the state, one of the biggest loan waivers cleared by any state from its own funds.

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Uttar Pradesh (UP) chief minister Yogi Adityanath instructed banks not to issue any notices of default to farmers in the state till his government delivers on its loan waiver announcement.UP government has renounced loans, below Rs 1 lakh, of 88 lakh farmers.

This step came post farmers’ agitation simmering in Madhya Pradesh over loan waiver demand.The CM has instructed the state finance department that the loan waiver amount of Rs 36,500 crore should be provided to the banks soon after the state budget is passed with a provision for the same. The UP state budget is likely to be presented by June end.

The UP government in April had announced Rs 36,500 crore loan waiver for approximately 88 lakh farmers in the state, one of the biggest loan waivers cleared by any state from its own funds.

The UP cabinet has also promised to write off Rs 5,630 crore in non-performing assets (NPAs) of 700,000 farmers. However, the promise is still to reflect on ground since the state budget is yet to be passed.

The uproar over farm loan waiver is not only limited to Madhya Pradesh but Maharashtra and Rajasthan also saw incidents of protest in the past few days.


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