RBI relief sought for flood-hit farmers

New Delhi, August 14

Congress leader Rahul Gandhi on Wednesday wrote to RBI Governor Shaktikanta Das and urged him for granting moratorium on repayment of crop loans for flood-hit Kerala farmers be extended to December 31.

In his letter, Gandhi said Kerala has witnessed the worst floods in over a century and its devastating impact is further compounded by the inability of farmers to repay agriculture loans on account of widespread crop loss and extensive damage to other productive assets.

“Despite the demand from the state government and Opposition parties to extend the moratorium on repayment of loans to December 31, 2019; the state-level banker’s committee has refused to consider the demand. “I request the RBI to take measures to extend the moratorium on repayment to December 31, 2019,” he said in his letter to RBI Governor.

In his letter, the former Congress president said Kerala has witnessed a tragic spate of farmer suicides in the aftermath of banks initiating recovery proceedings against helpless farmers under the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002.

Gandhi said external factors like the sharp fall in global commodity price of cash crops has also adversely affected the ability of farmers to bounce back. The Congress leader had on Monday visited flood-affected areas in his Wayanad Lok Sabha constituency in Kerala and assured all help to the flood-affected.

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