NABARD gears up to start farmers loan waivers by June

April 9th, 2008 - 8:34 pm ICT by admin  

New Delhi, Apr 9 (ANI): National Bank for Agriculture and Rural Development (NABARD) is all geared up to implement the Rs 60,000 crore loan waiver scheme for farmers announced by the UPA Government.

NABARD Chairman and Managing Director U C Sarangi said that the preparatory work was being initiated to ensure that the waiving of loans begins well before June end, which is the stipulated date for waiving off loans during the current year.

The NABARD will be involved about loan waiver of farmers from Cooperative Banks and Regional Rural Banks.

Sarangi also said that total number of Kissan Credit Cards in the country has rose to over seven crore with an addition of about 30 lakh cards last year.

He said the cooperative banks issue half of these credit cards.

The bank recorded a 21 per cent growth in its business operations with its turnover touching Rs 98,500 crore in 2007-08.This is an all time high. The previous year’s growth was 17 per cent. (ANI)

Tags: , , , , , , , , , , , , , , , , , ,

Posted in South Asia |