Bank of India launches debt waiver scheme
After FM Chidambaram's declaration of implementing the debt waiver scheme for farmers, public sector lender Bank of India launched the Agricultural Debt Waiver and Debt Relief Scheme at Arambakkam village.
By PTI |
CHENNAI: After Union Finance Minister P Chidambaram's declaration of implementing the debt waiver scheme for farmers, public sector lender Bank of India on Saturday launched the Agricultural Debt Waiver and Debt Relief Scheme at Arambakkam village, situated about 60 kms from here.
The Bank's Chairman and Managing Director T S Narayanasami inaugurated the scheme that would be gradually implemented across all its branches in the country.
"Through this initiative, the bank will provide relief to 5,63,000 farmers all over India and will result in waiver of loans to a tune of approximately Rs 1,298 crore," Narayanasami told reporters.
The bank has commenced holding workshops on a pan-India basis to train officials in implementing the scheme according to the mandatory guidelines given by the union government.
"We have around 48 zones all over India and appointed a zonal officer and an audit department official to follow the guidelines prescribed by the government of India and to identify the eligible farmers for the loan," he said.
Out of the Rs 1,298 crore, Tamil Nadu's share under the scheme is 142.67 crore covering 31,649 accounts, he said.
In Arambakkam village, the bank would waive Rs 56.73 lakh to 191 farmers of five panchayats and 13 villages, the chairman said. In Chennai, the number of accounts are 11,090 and amount Rs 37.56 crore, he added.
The Bank's Chairman and Managing Director T S Narayanasami inaugurated the scheme that would be gradually implemented across all its branches in the country.
"Through this initiative, the bank will provide relief to 5,63,000 farmers all over India and will result in waiver of loans to a tune of approximately Rs 1,298 crore," Narayanasami told reporters.
The bank has commenced holding workshops on a pan-India basis to train officials in implementing the scheme according to the mandatory guidelines given by the union government.
"We have around 48 zones all over India and appointed a zonal officer and an audit department official to follow the guidelines prescribed by the government of India and to identify the eligible farmers for the loan," he said.
Out of the Rs 1,298 crore, Tamil Nadu's share under the scheme is 142.67 crore covering 31,649 accounts, he said.
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In Arambakkam village, the bank would waive Rs 56.73 lakh to 191 farmers of five panchayats and 13 villages, the chairman said. In Chennai, the number of accounts are 11,090 and amount Rs 37.56 crore, he added.
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