Allahabad Bank Launches Debt Waiver Scheme

Allahabad Bank, one of the premier nationalised banks of the country, has commenced the process of implementing the Agricultural Debt Waiver and Debt Relief Scheme-2008 announced by the Government of India in the Union Budget (2008-09). The benefit of the waiver and relief will accrue to the farm sector borrowers, specially to the small, marginal and other farmers.

The Bank has decided to ensure efficient and speedy implementation of the waiver scheme in a time-bound programme so that the whole process is completed before 30th June, 2008 and does not spill over even by one day.

With a view to conveying the seriousness of the task to be performed and creating confidence among the farmers, Shri A.C.Mahajan, Chairman & Managing Director of the Bank, paid a visit to a couple of Branches in the State of Uttar Pradesh. Speaking on the occasion, Shri Mahajan observed that the success of the Scheme lies in the sincerity and integrity in preparation of the list of the eligible borrowers. He underlined the need to ensure that the list is accurate and free from error of inclusion/exclusion. The branches will display the list of the eligible farmers from 21.06.2008 to 29.06.2008. He took first hand account of the preparation of the list of eligible borrowers and guided the branch officials regarding smooth completion of the exercise by 30.06.2008 positively. Shri K.K.Agarwal, Executive Director of the Bank also visited a few branches in Uttar Pradesh to monitor smooth and flawless implementation of the scheme in a time-bound manner.

As part of the exercise, Shri J.P.Dua, Executive Director of the Bank, visited Bamangachhi and Chhoto Jagulia Branches under Zonal Office, Barasat in West Bengal to assess the process of implementation of the loan waiver scheme also. Shri Dua called on all the staff members of the Bank to initiate necessary steps to ensure successful implementation of the scheme by 30.06.2008.

Publicity Department
06.06.2008

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