Corporation Bank issues certificates under Waiver Scheme

Corporation Bank has commenced issue of certificates to the farmer beneficiaries of the Agricultural Debt Waiver and Debt Relief Scheme announced by the Government of India.

Chairman and Managing Director and top executives of the Bank visited rural branches of the Bank and handed over the certificates to mark commencement of the process of issuance of the certificates.

The Bank has waived a sum of Rs. 164.83 crore for 61430 farmers under the Scheme. Of the total farmers, 42725 are Small and Marginal farmers, accounting for a sum of Rs.114.20 crore (70%). The amount waived for small and marginal farmers has already been credited to their loan accounts before 30^th June 2008. The lists of beneficiaries have been notified in all the branches having eligible accounts. Branches have started issuing certificates to the farmers.

The amount waived in Karnataka is Rs. 106.55 crore covering 33628 farmers.

Grievance redressal machinery has been set up at all Zonal Offices of the Bank to resolve complaints, if any, received from the farmers. 

Sourced From: Pressman India