With the Ministry of Finance (MoF) issuing the final guidelines and the total amount for the Debt Waiver and Debt Relief Scheme, the bankers are happy that the large farmers have also been included in the final document which will give a boost to the farm productive cycle. However bankers are divided on the issue of time frame as to when the money will actually start reaching banks from the government for the implementation of the scheme. Few bankers opine that it may start coming since mid-June, while others are not aware of the time- frame for the same.
TS Narayanasami, chairman and managing director, Bank of India, said “Now that the final figure has come, it would all set to help us do our jobs smoothly. Actually we had submitted our figures before the Reserve Bank of India and based on the statement made by us, the government has come up with the actual amount. I think that the money in this connection will start pouring in from the government since the middle of June only.??
KC Chakrabarty, chairman and managing director, Punjab National Bank, said that it is good that the government has now come up with the actual amount involved in debt waivers scheme for the farmers. Large farmers holding 1-2 hectares of land have also been included this time. “I feel that the big farmers deserve a one time settlement rebate of 25% and it will finally help linking them to the productive cycle. But I don?t know when the money will start coming in from the government,?? he said..
MV Nair, chairman and managing director, Union Bank of India, said that there is no change as far as banks are concerned as all the definitions remain the same. Only the thing that the correct figure has come now. The earlier figure of Rs 60,000 was only approximate one. “So, it will definitely help us quicken our process of disbursing the required loan waivers to the farmers,?? added Nair.
A senior State Bank of India (SBI) official, requesting anonymity, said the bank will start working on the final scheme right now. Every branch of a scheduled commercial bank, regional rural bank, cooperative credit institution, urban cooperative bank and local area bank covered under this Scheme shall prepare two lists: one consisting of ?small and marginal farmers? who are eligible for debt waiver and the second one consisting of ?other farmers? who are eligible for debt relief under this Scheme.