Tamil Nadu cooperation minister says the state government has waived crop loans of Rs 5,318 cr given to 12.30 lakh farmers in the State, reports Hindu.
The loan waiver one of the election promises of former Chief Minister Jayalalithaa, has greatly helped farmers, the Minister said in a meeting with officials in Vellore.
Following demonetization, the state government had opened accounts for 3.70 lakh farmers with primary agricultural cooperative societies in Central Cooperative Banks and gave them crop loans of Rs. 1,093 crore, says the state govt press release.