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Mumbai, May 23 Following the announcement of the Agricultural Debt Waiver and Debt Relief Scheme by the Union Government today, banks have started collecting details about the loans disbursed and the eligible borrowers. As per the scheme, banks have to display the list of the eligible borrowers in their branches by June 30 and issue eligibility certificates as soon as possible. This will make it possible for farmers to borrow fresh loans for the next season, starting July.

Banks will also have to post one or more grievance redressal officers in their branches.

According to a senior bank official from a leading public sector bank, the guidelines announced today clarified eligibility criteria such as who are eligible. Modalities about how the Government will disburse the money to banks will be clear in a few days. “But we have to give the benefit of fresh loans to farmers immediately,” said the official.

For now it means that certain loans are off the balance sheets of banks and the banks are free to lend these amounts.

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Loan waiver: Banks start collecting details

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