IDBI Bank to implement farmers' debt waiver scheme

Mumbai, Jun 16 (UNI) The public sector lender, IDBI Bank today announced the implementation of agricultural debt waiver scheme for marginal and small farmers.

The bank will cover 35,000 accounts and the claim amount under the scheme that would ammount to Rs 100 crore. The scheme will be operational in 150 rural and semi-urban branches, the Bank said in a release today.

The outstanding agriculture portfolio of the bank is Rs 4,526 crore. IDBI Bank, with its pan-India presence in agri business, has already taken up necessary steps to implement the scheme, the Bank said.

Further, to ensure smooth and quick implementation of the scheme, a committee has been formed at head office level, headed by R Damodaran, Head (Agri Business Group) of IDBI stated.

The Bank has also arranged for proper publicity of the scheme through its agri and other branches and has put in place appropriate system for speedy preparation of the list of beneficiaries. It plans to release the list well before June 30, the release added.

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