Govt to give Rs 10,000 cr towards debt waiver scheme
Date : Aug-12-2009 14:56
In order to partly compensate the banks and financial institutions for writing off loans under the farm debt waiver scheme, the finance ministry is likely to release Rs. 10,000 crore This disbursal would be over and above Rs 5,000 crore, which was given, earlier this fiscal to the banks and financial institutions towards the debt waiver scheme.
The government had earmarked to pay Rs 15,000 crore to the lenders during the current financial year. The government had announced the debt waiver scheme in 2008-09 Budget and was implemented by June 30, 2008 and this entailed a burden of Rs 71,000 crore on banks and financial institutions which the government promised to reimburse in stages. During 2008-09, the government provided Rs 25,000 crore to lending institutions as a part of compensation towards the Agricultural Debt Waiver and Debt Relief Scheme.
Date : Aug-12-2009 14:56
In order to partly compensate the banks and financial institutions for writing off loans under the farm debt waiver scheme, the finance ministry is likely to release Rs. 10,000 crore This disbursal would be over and above Rs 5,000 crore, which was given, earlier this fiscal to the banks and financial institutions towards the debt waiver scheme.
The government had earmarked to pay Rs 15,000 crore to the lenders during the current financial year. The government had announced the debt waiver scheme in 2008-09 Budget and was implemented by June 30, 2008 and this entailed a burden of Rs 71,000 crore on banks and financial institutions which the government promised to reimburse in stages. During 2008-09, the government provided Rs 25,000 crore to lending institutions as a part of compensation towards the Agricultural Debt Waiver and Debt Relief Scheme.
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