ONLY AGRICULTURE LOAN TO BE WAIVED OFF UNDER CROP LOAN WAIVER SCHEME: ADC (D) LUDHIANA

Ludhiana, October 26, 2018: Additional Deputy Commissioner (Development) Dr Shena Aggarwal has clarified that under the Crop Loan Waiver Scheme being started by the Punjab government, only loans taken for agriculture purposes by small and marginal farmers would be waived off. Whereas the farmers should continue repaying the loans taken for purposes other than agriculture. While chairing the 122nd District Level Review Committee meeting at Bachat Bhawan, here, Dr Shena Aggarwal also reviewed the progress of all banks. During the meeting she said that it has come to her notice that ever since the Crop Loan Waiver Scheme was started by the Punjab government, all farmers have stopped repaying their loan, due to which banks have been suffering huge losses. She said that the banks have been in constant touch with all such farmers to repay their debt, but they have been dilly dallying. While taking this issue seriously, Dr Aggarwal asked the bank officials to make the farmers aware that as per the Punjab government notification issued on October 17, 2017, loan taken for only agriculture purposes would be waived off and that also for only small and marginal farmers. She said that the concerned departments have already carried out verification of eligible beneficiaries, so the remaining farmers should not dilly dally over this issue and repay their loans to banks. She said that if the farmers do not repay their loan, then they would become bank defaulters after which they might face problem while securing bank loan in future. It also came to light during the meeting that some banks are not contributing in providing benefits of welfare schemes to eligible persons. Dr Shena Aggarwal directed the bank officials to ensure that they should make efforts and make people aware about the welfare schemes of both state as well as the union government so that a large number of people can be benefitted from them. She also directed the banks to set up Finance Literacy Centres (FLC) in black allotted to them and depute staff for helping the public. She also directed that awareness camps should also be organised and maximum participation of public should be ensured. She directed District Lead Manager Mr Anil Kumar to ensure that representatives of labour department are also invited for future meetings. She also directed that awareness camps should also be organised in different factories and industrial houses. She said that from now on, each bank would be given a monthly target of providing benefits of welfare schemes to the eligible beneficiaries and if any bank fails to achieve its target, then they would write against the concerned bank manager to the State Level Bank Committee. She stated that all banks should ensure that eligible persons and those belonging to weaker sections of society should not face any problem in securing bank loan. Prominent among those who attended the meeting included Mr BB Sharma from Reserve Bank of India, Mr Amolak Singh, Zonal Manager, Punjab & Sind Bank, Mr Parveen Bhatia from NABARD, besides representatives of various banks.