Published On : Mon, Sep 9th, 2019

Loans borrowed by farmers from licensed money lenders waived off in Vid, Marathwada

Nagpur: In a significant move, the State Cabinet on Monday waived loans borrowed by farmers from licensed money lenders in Vidarbha and Marathwada. In a meeting held on Monday, the State Cabinet approved a total 37 proposals as well as schemes and projects.

As per Cabinet decision, Industrial Training Institutes (ITIs) for Divyang would be set up across the state. As far as Nagpur is concerned, approval was granted for utilisation of 1.22 hectare land in Jaitala for public utility purpose. Stamp and registration charges for documents on handing over of Research and Resurgence Foundation in city have been waived.

The decision to waive off loans borrowed from licensed money lenders would provide great relief to farmers in Vidarbha and Marathwada. The needy farmers take loans from money lenders mortgaging their lands, livestock, gold and other valuables. Considering more harassment for farmers to borrow loans from private money lenders than institutional loans, the State Cabinet decided to waive such loans of farmers.