Bengaluru: Farmers protest, demand change in loan policy

BENGALURU: A few hundred farmers from across the state attempted a protest in front of the Reserve Bank of India (RBI) in Bengaluru on Tuesday, demanding a change in loan policy and removal of a CIBIL score requirement to secure agricultural loans.
Members of the Federation of State Farmers’ Association and the Karnataka Sugarcane Cultivators’ Association arrived to participate in the protest, but agitators were stopped by police and prevented from marching to RBI.Police had formed a tight security cordon around RBI premises.
The protest was staged near the building of the Department of Public Instruction. Farmer leaders insisted that an RBI official speak to them and resolve the issue.
Kurubur Shanthakumar, president, Karnataka Sugarcane Cultivators’ Association, said he had written a letter to the Bengaluru RBI chief 20 days ago but got no reply. “When agricultural loans are granted, CIBIL score should not be considered,” said Shanthakumar. “We are farmers who feed the country. Sometimes we are not able to pay back loans due to floods, or famine. It is not tenable to reject loans based on CIBIL scores. ”
The protestors also asked for representation in meetings of various bank committees. “Inviting representatives from farmers’ associations to these meetings will help in taking decisions that are in line with our needs,” they said.