Corp Bank issues certificates for loan waiver

Mumbai, Jul 3: Public sector lender Corporation Bank on Thursday, July 3, said it has commenced issuing of certificates to the farmer beneficiaries of the farm loan waiver under debt relief scheme announced by the Government of India.

The Bank has waived a sum of Rs 164.83 crore for 61,430 farmers under the scheme, the Bank said in a released issued here.

Of the total farmers, 42,725 are small and marginal farmers, accounting for a sum of Rs 114.20 crore, comprises 70 per cent of the total amount. The amount waived for small and marginal farmers has already been credited to their loan accounts before June 30, 2008, the bank stated.

The top officials of the bank visited rural branches and handed over the certificates to mark commencement of the process of issuance of the certificates and the lists of beneficiaries have been notified in all the branches having eligible accounts. Branches have started issuing certificates to the farmers, the release added.

UNI