The State Government on Friday issued orders declaring a moratorium on the recovery of loans availed by farmers, fishers and small traders till December 31 this year.
The moratorium will be applicable to all loans, including agricultural and education loans availed from various financial institutions, government agencies such as the Kerala State Housing Board, Kerala State Cooperative Housing Federation, Vegetable and Fruit promotion Council Keralam and the Kerala State Backward Classes Development Corporation, cooperative banks and institutions notified under Section 71 of the Revenue Recovery Act, 1968.
The decision was taken in view of the hardships caused to farmers, small traders and fishers by rain havoc, coastal erosion and the lockdown necessitated by the second wave of COVID-19, the Revenue Department order noted.
