Bengaluru: Chamundeshwari JD(S) MLA G.T. Devegowda (GTD) has urged NABARD (National Bank for Agriculture and Rural Development) not to bring down the loan limit.

Addressing a press meet here yesterday, GTD, who is also the Karnataka State Co-operative Federation President, said that NABARD has cut down the loan limit by 58 percent, which is going to badly hit the farmers. Pointing out that NABARD had given loans (Agricultural, Horticultural etc.,) of Rs. 5,500 crore in 2020-21, he said that this loan has now been cut down to Rs. 2,340 crore in 2024-25, which means a cut of 58 percent.

Maintaining that this cut has a repercussion effect on Agricultural lending in Karnataka, GTD said that this cut, apart from causing difficulty to farmers, will also hurt Agricultural Credit Co-operative Societies and DCC Banks. Taking all this into consideration, the NABARD should not bring down the loan limit, he said adding that farmers will be in dire straits if NABARD keeps on bringing down loan limit every year.

All India Co-operative Week from Nov. 14

Continuing, GTD said that the inauguration of the All India National Co-operative Week (Nov. 14 to 20) will take place   at Bengaluru’s Jnana Jyothi auditorium tomorrow (Nov. 14). Noting that the event will be held at Chitradurga on Nov. 15, at Mangaluru on Nov.16, he said that the same will be held at Bagalkot on Nov. 17, which will be inaugurated by Chief Minister Siddaramaiah.

Later on, the event will be held at Bidar on Nov. 18, at Mangaluru on Nov. 19 and at Belagavi on Nov. 20, the concluding day. Co-operators who have excelled will be feted during the weeklong event, he added.

The Federation Vice-President Jagadish Kavatagimath, Special officer to the Co-operation Minister Ramana Reddy, the Federation Directors Shekargouda Mali Patil, Lokappagouda, Ramareddy, Ashok, Eeranna, Nagarathna, Managing Director Navin and others were present.