The Hindu Business Line : Chidambaram briefs banks on waiver process

Kolkata, June 4 Bank officials should be sensitised about the guidelines and instructions that have been issued for determining who the eligible farmers are for the debt waiver scheme, the Finance Minister, Mr P Chidambaram, told the three Kolkata- based public sector banks in a videoconference on Wednesday.

Mr Chidambaram listed a few actions points for compliance while directing the three banks – United Bank of India, UCO Bank and Allahabad Bank, to implement the agricultural debt waiver and debt relief scheme by June 30.

The list of eligible farmers should be verified and authenticated by a senior official before being displayed in the branches. The display of the list should be preferably completed by June 20, the Finance Minister said.

Executives at the level of Assistant General Manager, Deputy General Manager and General Manager should be allocated 20-25 branches each, which should be visited by them for verification. Errors of inclusion and exclusion should be avoided to make the exercise of debt waiver totally error free, Mr Chidambaram said.

He said the branch should issue a loan waiver certificate to the farmers who would then be eligible for a fresh loan.

More Stories on : Farm credit

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Chidambaram briefs banks on waiver process

Oriental Bank list by June 20

PNB to beat June 30 deadline

Syndicate Bank drive

Loan waiver: SBT forms core group

Rupee falls on fuel price hike

Central banks are inflation anchors

Kotak Mahindra Bank to open 76 branches

Bond prices fall

RBI to oil cos’ rescue; begins bond purchases

Call rates tad higher

Think twice about paying credit card dues — in cash

RBI bars Sahara India Financial from accepting public deposits

Vijaya Bank to shed high-cost deposits

Allen Pereira heads Bank of Maharashtra