Increasing Indebtedness Debt Waiver and Debt Relief Scheme in India
- The Govt. has implemented Agricultural Debt Walver & Debt Relief (ADWDR) Scheme, 2008, under which:
1. All agricultural loans disbursed by scheduled commercial banks, regional rural banks and cooperative credit institutions up to march 31, 2007 and overdue as on Dec 31, 2007 have been covered under the scheme.
2. For marginal farmers 9i.e, holding upto 1 hectare) and small farmers (1-2 hectare), there has been a complete waiver of all loans that were overdue on Dec 31, 2007 and which remained unpaid until Feb 29, 2008. In respect of other farmers, a one time settlement (OTS) scheme has been granted for all loans that were overdue on Dec 31, 2007 and which remained unpaid until Feb 29, 2008.
- Under the OTs, a rebate of 25 per cent was to be given against payment of the balance of 75 per cent.
- Time upto 30th June, 2009 was allowed to pay 75% of their over dues. Owing to the late arrival of monsoon, the Govt. has now decided to extend this periods upto 31th Dec, 2009.
3. Agricultural loans were restructured and rescheduled by banks in 2004 and 2006 through special packages.
- The scheme has been implemented in all the Districts of the country.
- A total of 3.01 crore small and marginal farmers and 0.67 crore other farmers have benefited from the scheme involving debt waiver and debt relief of Rs.65,318.33 crore.
Regulatory Banks S.No. Bank Name Website 1. Reserve Bank of India http://www.rbi.org.in/ 2. National Bank for Agriculture and Rural Development - NABARD http://www.nabard.org/ 3. SIDBI http://www.sidbi.in/
Banks S.No. Bank Name Website 1. Allahabad Bank http://www.allahabadbank.com 2. Andhra Bank http://www.andhrabank-india.com 3. Bank of Baroda http://www.bankofbaroda.com 4. Bank of India http://www.bankofindia.com 5. Bank of Maharashtra http://www.maharashtrabank.com 6. Canara Bank http://www.canbankindia.com 7. Central Bank of India http://www.centralbankofindia.co.in 8. Corporation Bank http://www.corpbank.com 10. Dena Bank http://www.denabank.com 11. IDBI Bank Limited http://www.idbibank.com 12. Indian Bank http://www.indian-bank.com 13. Indian Overseas Bank http://www.iob.com 14. Oriental Bank of Commerce http://www.obcindia.com 15. Punjab & Sind Bank http://www.psbindia.com 16. Punjab National Bank http://www.pnbindia.com 17. State Bank of Bikaner and Jaipur http://www.sbbjbank.com 18. State Bank of Hyderabad http://www.sbhyd.com 19. State Bank of India http://www.sbi.co.in 20. State Bank of Indore http://www.indorebank.org 21. State Bank of Mysore http://www.mysorebank.com 22. State Bank of Patiala http://www.sbp.co.in 23. State Bank of Saurashtra http://www.sbsbank.com 24. State Bank of Travancore http://www.statebankoftravancore.com 25. Syndicate Bank http://www.syndicatebank.com 26. The Bank of Rajasthan Limited http://www.bankofrajasthan.com 27. UCO Bank http://www.ucobank.com 28. Union Bank of India http://www.unionbankofindia.com 29. United Bank Of India http://www.unitedbankofindia.com 30. Vijaya Bank http://www.vijayabank.com
SLBC S.No. Bank Name Website 1. STATE LEVEL BANKERS' COMMITTEE RAJASTHAN http://www.slbcraj.com/