Farm loans worth Rs 18 cr likely to be waived: Allahabad bank
Public sector lender Allahabad Bank on Monday said that bank is likely to waive off a debt worth Rs 18 crore of Punjab farmers under the Agriculture Debt Waiver and Debt Relief Scheme, 2008.
By PTI |
CHANDIGARH: Public sector lender Allahabad Bank on Monday said that bank is likely to waive off a debt worth Rs 18 crore of Punjab farmers under the Agriculture Debt Waiver and Debt Relief Scheme, 2008.
"Total exposure of the bank under agriculture portfolio in Punjab stands at Rs 595.34 crore and out of which Rs 18 crore would be waived under the debt relief scheme," Allahabad Bank, Chairman and Managing Director, Avinash Chander Mahajan said in a release issued here on Monday.
Under this scheme, 5870 bank's borrowers would be eligible to avail the benefit in Punjab, he said.
Mahajan said that this was a self-executing scheme and the farmers were not required to make application for waiver.
"If they fall under the criterion, they will be apprised of the benefit by the staff of the bank," he said.
Talking about the bank's expansion plans, he said that Bank has 15 licenses for opening new branches across the state and is in a process to apply for maximum number of branches in nook and corner of the state.
"Total exposure of the bank under agriculture portfolio in Punjab stands at Rs 595.34 crore and out of which Rs 18 crore would be waived under the debt relief scheme," Allahabad Bank, Chairman and Managing Director, Avinash Chander Mahajan said in a release issued here on Monday.
Under this scheme, 5870 bank's borrowers would be eligible to avail the benefit in Punjab, he said.
Mahajan said that this was a self-executing scheme and the farmers were not required to make application for waiver.
"If they fall under the criterion, they will be apprised of the benefit by the staff of the bank," he said.
Talking about the bank's expansion plans, he said that Bank has 15 licenses for opening new branches across the state and is in a process to apply for maximum number of branches in nook and corner of the state.
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