Lawstreet Journal

Co-Operative Banks to Disburse Loans to Farmers Without Insisting on Interest and Also to Refund the Interest Already Collected: Bombay High Court [READ ORDER]

Lawstreet Journal 21 Oct 2020 10:23pm

Image courtesy: Lawstreet Journal Judiciary Co-Operative Banks to Disburse Loans to Farmers Without Insisting on Interest and Also to Refund the Interest Already Collected: Bombay High Court [READ ORDER]

Providing a relief to nearly 1 lakh farmers the Bombay HC division bench consisting of Justice SV Gangapurwala and Justice SD Kulkarni directed Aurangabad District Central Co-operative Bank to disburse fresh crop loans for the current season without insisting on interest and further directed to return the collected interest of Rs. 5 crores to the farmers.

The farmers were waiting for crop loans to be disbursed for the current Kharif season. While hearing a PIL filed by one RTI activist called Kishor Tangade where he asked the disbursement of loans as per a GO dated January 17th, 2020 which directed the DCC banks to not to charge the interest from October 1st, 2019 till the time the actual benefit is given to the person who can avail the benefits of ‘Mahatma Jotirao Phule Shetkari Debt Waiver Scheme 2019’. 

Advocate SB Talekar appeared from the side of the petitioner and argued that the crop loan waiver scheme was introduced by the Government and all the agriculturalist availing the benefit of crop loan from April 1st, 2015 to March 31st, 2019 are entitled to the benefit of the crop loan waiver to the extent of Rs. 2 lakh and under the government resolution it is also directed that there should be no interest levied upon the loan, banks are however not disbursing the loans on the ground that agriculturalist has not paid interest from October 1st, 2019.

The same is not in consonance with the resolution dates January 17th, 2020 as the government in this… Continue Reading...


Tagged: Indian Farmers   Bombay High Court  
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