India: 6% of farmer loans in Haryana at risk of default

Amid continuing protests by Haryana's farmers, seeking a waiver of their outstanding loans, official figures reveal that there are 1.43 lakh (6%) farmers in the state whose accounts have been declared as non-performing assets (NPAs) by various commercial and cooperative banks till March 31.

The total NPAs -agriculture loan and term loan -pertaining to farmers' loans were Rs 351.77 crore till March 31, as per the Haryana State Level Bankers' Committee (HSLBC).

There are 1.32 lakh accounts of farmers in Haryana that have NPAs with an outstanding agriculture loan amount of Rs 345.82 crore. The total outstanding loan remained Rs 5,621.73 crore against 30.64 lakh farmers who are paying by instalments.

Experts in the field of agricultural economics and banking say that in the guise of those who have been bearing the brunt of poor farm production and losses, even those farmers who have the capacity to pay also want a waiver of their outstanding loans.

1 RS = 0.016 USD
Read more at timesofindia.indiatimes.com

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