Banks implement agriculture debt waiver scheme

Apr 28 ,2012 09:33 AM
Banks implement agriculture debt waiver scheme

As per the guidelines of the Scheme, the lending institutions shall not charge any interest on the eligible amount for any period after February 29, 2008.

Minister of State for Finance, Namo Narain Meena said that the Agriculture Debt Waiver and Debt Relief Scheme (ADWDRS) 2008, was implemented in the country by Public Sector Banks, Private Sector Banks, Co-operative Banks, local area banks and Regional Rural Banks. The debt waiver portion of the scheme was closed on 30.6.2008. The debt relief portion of the scheme was closed on 30.6.2010.

As per the guidelines of the Scheme, the lending institutions shall not charge any interest on the eligible amount for any period after February 29, 2008. However, in the case of other farmers who defaults in paying his share of the eligible amount on or before June 30, 2009 and becomes ineligible for One Time Settlement (OTS) relief, the bank may charge interest for the period after June 30, 2009.

The Government has reimbursed Rs. 18287.16 crore to the State Cooperative Banks towards the implementation of the Scheme.

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