The Coordination Committee of All Farmers Associations of Tamil Nadu has appealed to Chief Minister C. Joseph Vijay to suspend the loan recovery process initiated by agriculture cooperative societies.
In a statement on Saturday, Coordination Committee president P.R. Pandian said Tamil Nadu farmers were expecting the agriculture loan waiver announcement from the Chief Minister.
Pointing out that with the loan period about to expire, the Agriculture Cooperative Societies were expected to initiate loan recovery process. Hence, the farmers expect a direction from the Chief Minister to the societies not to initiate loan recovery steps.
Farmers were facing the danger of repaying interest-free agriculture loans with 13% ‘late interest’ in case the loan waiver announcement was made after the loan period.
Such being the case, they expect the Chief Minister to at least direct the societies to withhold the loan recovery process, he added.