The government is forming a blueprint to waive farm loans to the tune of ₹48,000 crore from both cooperative sector and nationalised banks, Chief Minister H.D. Kumaraswamy said on Tuesday.
After a meeting with representatives of nationalised banks, he said they had agreed to the proposal and informed the government that the issue would be discussed with their senior officials at the central office.
Mr. Kumaraswamy said the government had asked the banks to provide it with data on eligible loans for waiver with digital signatures. The data would be reviewed and the modalities worked out, he added.
He said the Finance Department had already released the committed sum towards waiver announced by the previous government.