Farmer organisations in Wayanad are devising strategies to resist revenue recovery measures by financial institutions against loans, Farmers’ Relief Forum president P.M. George has said.
The spread of COVID-19, sharp decline in production of cash crops such as black pepper and coffee owing to climate change and diseases affecting crops, and wildlife attacks have cast a shadow on the lives of thousands of farmers in Wayanad, he added. As a result, many farmers were unable to repay their debts in time. Moreover, they are now facing the threat of losing their mortgaged property.
Financial institutions, including nationalised banks, had initiated revenue recovery measures by invoking the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest (SARFAESI) Act against farm loans availed by over 1,500 farmers in the district, he said.
