Farmers block road after bank deducts crop insurance money

Belagavi: Farmers under the banner of Karnataka Rajya Raita Sangha and Hasiru Sene blocked the road in front of Syndicate Bank, the district LEAD bank, at Maruti Galli here on Tuesday to condemn the bank deducting loan installment from the insurance amount paid to them under the Fasal Bima Yojana.
“We were paid compensation for crop losses of 2015 to 2017 and the money was deposited in their accounts. But the banks are deducting the money for crop loan installments. Bank officials are also not allowing farmers to withdraw the money from their accounts,” alleged a farmer.

The farmers blocked Maruti Galli – one of the busiest roads in the city for fifteen minutes. Then the LEAD bank’s manager met the farmers and assured that all nationalised banks would be instructed to not deduct crop compensation amount to settle loans.

The farmers then withdrew the protest.