Loan waiver to benefit 28.9k farmers in Udupi

The district administration is all set to facilitate the waive Rs 257.99 crore loan availed by 28,880 farmers from Primary Agricultural Credit Society (PACS), District Credit Cooperative Banks (DCC) and commercial banks in the district.

Additional Deputy Commissioner Vidyakumari said that PACS and the DCC banks had completed the formalities. “The online updating had been completed. There were 233 banks covered under the loan waiver scheme. Up to 24,232 beneficiaries had availed of loans from societies while the remaining 4,648 farmers had borrowed loan from commercial banks,” she explained.

“A total amount of Rs one lakh will be waived for each farmer who borrowed from PACS and DCC banks and Rs two lakh in the case of commercial banks. Farmers should submit their Aadhaar card details, ration card and self-declaration forms immediately to the banks,” she said, adding that the last date will be January 10, 2019.

If the farmer has cleared the loan by paying instalments, the amount will be deposited to the bank account, ADC added.