The total debt waiver as given by the state-run National Bank for Agriculture and Rural Development (Nabard) was likely to be to the tune of Rs 30,452.59 crore. This amount includes the full waiver debt for small and marginal farmers and the one-time settlement of a waiver of 20% of the total debt in the case of big farmers owning land more than 5 acre. Nabard is the nodal agency for the implementation of the scheme, as announced by the government early this year, for regional rural banks and co-operative banks.
The scheme closed on June 30. For Maharashtra alone, the amount was worth Rs 5,742.33 crore. The amount in the case of states like Andhra Pradesh were Rs 5,130.13 crore and Rs 237.93 crore respectively.
The reason for the comparatively small amount for Tamil Nadu is that the state government had already opted for a major debt waiver scheme in the recent past.
Asked from when the money will start pouring in for banks in the form of reimbursement from the government, the bank MD KG Karmakar, said that it will not be a problem as the government has already made an arrangement for Rs 10,000 crore for this purpose during the last fiscal and an additional sum of Rs 15,000 crore has also been kept aside by the government.