Thiruvananthapuram, Mar 1 (UNI) Kerala Finance Minister Thomas Issac today urged the Centre to earmark funds for giving compensation to banks that were asked to write off farm loans worth Rs 60,000 crore.
In a statement here, he pointed out that there was no allocation for providing compensation to banks and cooperative bodies. The crash in the value of banks' shares indicated that the financial institutions should have to bear the burden.
Commercial banks might be in a position to take the impact, but the cooperative bodies would find it difficult to survive, he added.
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