Farmers of Punjab and Haryana, who play a significant role in ensuring food security in the country, are not going to gain much from the agricultural debt waiver and debt relief scheme 2008, announced by the UPA government. The total amount to be waived off under the scheme is Rs 71,680 crore.
The latest data submitted to the Reserve bank of India (RBI) from various banks of both the states as on June 17, 2008 revealed that Punjab?s farmers will get a relief of Rs 608 crore. Interestingly the total of amount of relief for Haryana, which has less agrarian land than Punjab, has been estimated at Rs 1037 crore.
As per the data there are 1.57 lakh accounts of farmers who have a history of bad loan availed from scheduled commercial banks (SCB), regional rural banks (RRBs) and cooperative banks in Punjab. In Haryana there are 3.42 lakh accounts of farmers who failed to repay the loan taken by SCBs, RRBs and cooperative banks. However there are few banks which have asked for more time to submit the data and it is expected that amount can get doubled when the final list will be out after June 20. As per the report, the major banks which will have largest share in providing the debt waiver and relief, include State Bank of Patiala (SBOP) which has 19,000 accounts of bad loan and will be waiving of Rs 72 crore, Punjab National Bank has identified 10,000 accounts of amount Rs 47 crore and State Bank of India which has identified 11,000 accounts with the history of bad loan and will be waiving off Rs 36 crore.
State level bankers committee (SLBC) convener bank Punjab National bank is monitoring banks for compliance of the scheme in both the states. PNB has already special steering committees for implementation of the scheme. Speaking to FE, N C Jain, general manager, PNB and convener of state level bankers committee (SLBC) said, ?The reason behind the low amount of bad loan in both the states is that the recovery rate of agri-loans has always been good.
Moreover final figures are yet to come which will clear the actual position. It is possible that Punjab may get ahead of Haryana. The final lists will be displayed in banks after June 20 and we all are supposed to provide the waiver before June 30 and will issue to waiver certificates to farmers. We are receiving 100 odd enquiries from farmers every day at various bank branches. Moreover we have already appointed grievance redressal officers hat various branches to solve the problems of farmers in case they face any difficult in getting the waiver?.
