Karnataka bank begins farm loan waiver

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Mangalore, July 3 (UNI) The city-based Public Sector Corporation Bank has commenced issue of certificates to the farmer beneficiaries of the farm devt waiver and relief scheme announced by the Centre.

Chairman and Managing Director B Sambamurthy and top executives of the Bank visited rural branches of the Bank and handed over the certificates to mark commencement of the process of issuance of the certificates, a release said today.

The Bank had waived a sum of Rs. 164.83 crore benefitting 61,430 farmers under the Scheme. Of this 42,725 were small and marginal farmers, accounting for a sum of Rs.114.20 crore that amounts to 70 per cent of the waiver.

The amount waived for small and marginal farmers had already been credited to their loan accounts before June 30.

The lists of beneficiaries hade been notified in all the branches having eligible accounts. Branches have started issuing certificates to the farmers.

The amount waived in Karnataka was Rs 106.55 crore covering 33,628 farmers.

Grievance redressal machinery had been set up at all Zonal Offices of the Bank to resolve complaints, if any, received from the farmers, the release added.

UNI MA RS GM1730

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