The Hindu : Karnataka / Bangalore News : Canara Bank begins farm loan-waiver relief

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Friday, Jun 13, 2008
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Karnataka

Karnataka - Bangalore

Canara Bank begins farm loan-waiver relief

Special Correspondent

BANGALORE: Canara Bank, which is headquartered here, has initiated action at all levels for implementing the agricultural debt waiver and relief scheme 2008, as per the recommendation made by the Union Ministry of Finance. According to a press release here today from the bank, its Chairman M.B.N. Rao visited Devanahalli, Avathi and Vishwanthapura branches of the bank in Bangalore Rural district and initiated the scheme.

According to the bank release, under the scheme, small and marginal farmers are provided complete waiver of overdue farm loans as on December 31, 2007, and relief to an extent of 25 per cent will be provided on overdue to other farmers.

Well-prepared

Mr. Rao has expressed satisfaction over the level of preparedness the branches have achieved to extend the scheme to the farmers. He has also directed all the bank’s branches to provide further credit to the eligible farmers without delay as the monsoon has set in. He assured continued thrust of the bank on farm credit and expressed that the farm loan-waiver relief announced by the Centre will benefit about six lakh farmers who have dealings with Canara Bank.

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