The Rajkot District Co-operative Bank (RDCB) has decided to waive interest on loans given to nearly two lakh farmers for agriculture purposes, following a rain deficiency in Saurashtra region.
"The RDCB has decided to waive interest on Rs 1225 crore given as loans to farmers in Saurashtra, who are facing a tough time duo to insufficient rain," RDCB chairman Vitthal Radadiya said here on Thursday.
Farmers who suffer financial losses would be given an additional loan of Rs 20,000 per acre, he said adding that nearly Rs 475 crore has already been allocated.
As many as twelve farmers have committed suicide this month due to crop failure, while the state government has yet not announced any financial assistance to farmers of the Saurashtra region.
