Loan waiver under central scheme to be over by June end: UBI
The UBI on Monday announced that it will complete implementation of the Central scheme of agriculture debt waiver for small and marginal farmers in the country by the end of June 2008.
By PTI |
AHMEDABAD: The Union Bank of India (UBI) on Monday announced that it will complete implementation of the Central scheme of agriculture debt waiver for small and marginal farmers in the country by the end of June 2008.
Chairman and managing director of UBI, M V Nair told reporters that the bank has completed the identification of beneficiaries under the Agriculture Debt Waiver and Relief Scheme, 2008, mooted by the Central government to help the small farmers in the country in the last budget.
"We have identified around 5.5 lakh small and marginal farmer who have taken loan from UBI and will now get benefit under this central scheme. Loans of 4.5 lakh farmers will be waived off and around one lakh will get debt relief of 25 per cent under the scheme," Nair said.
"We will conduct a nation-wide exercise to verify the beneficiaries and come out with a final list which will then be audited. We want to make sure that not a single farmer who is eligible under the scheme is left out," Nair added.
According to Nair, total waiver for the bank will be around Rs 1,250 crore and relief will be approximately Rs 220 crores.
"Around 1200 farmers in Gujarat will benefit under the scheme at the cost of Rs 36 crore," he said. Nair was here to assess the situation in its rural branches in Gujarat.
The Agriculture Debt Waiver and Debt Relief Scheme, 2008, was announced by the Central Government providing waiver of loans in case of small and marginal farmers who are cultivating land up to five acres.
Chairman and managing director of UBI, M V Nair told reporters that the bank has completed the identification of beneficiaries under the Agriculture Debt Waiver and Relief Scheme, 2008, mooted by the Central government to help the small farmers in the country in the last budget.
"We have identified around 5.5 lakh small and marginal farmer who have taken loan from UBI and will now get benefit under this central scheme. Loans of 4.5 lakh farmers will be waived off and around one lakh will get debt relief of 25 per cent under the scheme," Nair said.
"We will conduct a nation-wide exercise to verify the beneficiaries and come out with a final list which will then be audited. We want to make sure that not a single farmer who is eligible under the scheme is left out," Nair added.
According to Nair, total waiver for the bank will be around Rs 1,250 crore and relief will be approximately Rs 220 crores.
"Around 1200 farmers in Gujarat will benefit under the scheme at the cost of Rs 36 crore," he said. Nair was here to assess the situation in its rural branches in Gujarat.
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The Agriculture Debt Waiver and Debt Relief Scheme, 2008, was announced by the Central Government providing waiver of loans in case of small and marginal farmers who are cultivating land up to five acres.
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