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Karnataka plans law to waive farm loans from money lenders
Bengaluru, Aug 25 (IANS) Karnataka plans to make a law to get waived the loans farmers and landless agricultural labourers took from moneylenders to provide them debt relief, said an official on Saturday.
“The state cabinet has decided to enact a law that prohibits moneylenders from recovering loans given to farmers and landless labourers whose annual income is less than Rs 1.25 lakh per annum and own less than two hectares of dry land or half acre irrigated land,” the official told IANS here.
As the state legislature is not in session, the state government plans to bring the law through an ordinance and enforce it after the Governor’s approval and assent of the President.
“The law will have a provision to levy Rs 1.25-lakh fine or one-year jail term or both on the moneylenders if they force the beneficiaries to repay by coercion,” said the official.
State Law and Parliamentary Affairs Minister Byre Gowda told reporters here the Karnataka Debt Relief Ordinance, 2018 would be promulgated to provide relief to small and marginal farmers who take loans from moneylenders, mortgaging their lands.
The move comes a fortnight after the Janata Dal-Secular (JD-S)-Congress coalition government on August 10 decided to waive crop loans raised by farmers from the state cooperative banks and state-run (nationalised banks) to the tune of Rs 43,448 crore, including additional loans up to Rs 9,448 crore till July 10.
“As many small and marginal farmers and landless workers borrow money from private lenders by pledging their assets like agriculture lands or gold jewellery at high interest rate, the government is committed to provide relief to them as in the case of other farmers who borrow from banks,” Gowda asserted.
The beneficiaries will have to apply to the jurisdictional Assistant Commissioners in their respective districts to claim the debt relief by providing details of the amount borrowed and from which money lender with documents or assets hypothecated.
“A similar law was enacted in the state in 1976 and 1980 through the ordinance route. Based on same experience, we have decided to enact it through the Karnataka Debt Relief Act, 2018,” reiterated Gowda.
The government hopes the new law will free the farmers and labourers from the clutches of moneylenders if they are unable to repay their loans because of high interest rates and poor returns from their farmlands.
–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.
Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.
During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.
On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”
Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.
It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.
Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.
Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”
On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”
The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.